Asiaray Obtains the Exclusive Concession Rights for Hangzhou Metro Lines 2 and 4

Asiaray Media Group Limited (“Asiaray” or the “Group”; stock code: 1993.HK), a leading out-of-home media company with a strategic focus on airport and metro line advertising, is pleased to announce that it has entered into an exclusive advertising media operation contract (the ‘‘Contract’’) with Hangzhou Metro Group Company Limited (the ‘‘Hangzhou Metro’’) via Shanghai Asiaray Advertising Company Limited (‘‘Shanghai Asiaray’’), an indirect wholly-owned subsidiary of the Group. Pursuant to the Contract, Shanghai Asiaray is granted the exclusive concession rights to operate the mainstream advertising media of Phases 1 and 2 of Hangzhou Metro Line 2 and Phase 1 of Hangzhou Metro Line 4. The Contract will commence on 1 June 2017 and expire on 31 December 2022, with the option to extend for an additional three years from 1 January 2023.

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