Revenue growth outperforms the market
Net Profit increases 292.4%

(Hong Kong, 16 March 2011) – SJM Holdings Limited (HKSE: 880, hereinafter the "Company") today announced the audited consolidated annual results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2010.

FINANCIAL HIGHLIGHTS

OPERATING HIGHLIGHTS:

• Gaming revenue earned by Sociedade de Jogos de Macau, S.A. ("SJM"), a subsidiary of the Company, grew by 67.9%, exceeding the 57.8% rate of growth of casino gaming revenue in Macau.
• Adjusted EBITDA increased at an even greater rate of 113.2%, reflecting efficiency gains made by the Group.
• Profit attributable to owners of the Company grew by 292.4%.
• SJM completed its eighth consecutive quarter of growth in gaming revenue and Adjusted EBITDA.  Unaudited results for the fourth quarter of 2010 show that SJM's gaming revenue surpassed the previous quarter by 19.3%, exceeding the 16.3% growth rate of the Macau market during the same period.
• SJM continued to lead in market share of the Macau casino gaming market, with 40.1% of mass market table gaming revenue and 29.5% of VIP gaming revenue, and increased its overall market share to 31.3% from 29.4% in 2009.
• The Group maintained its strong balance sheet, with cash, bank balances and pledged deposits increasing to HK.3 billion as at 31 December 2010.
• Casino Grand Lisboa continued to perform strongly in 2010, contributing Adjusted EBITDA of HK,557 million for the year and Adjusted EBITDA margin of 16.4% on the basis of Hong Kong generally accepted accounting principles.  If prepared on the basis of United States generally accepted accounting principles, the Adjusted EBITDA margin of Casino Grand Lisboa would be 26.4% for 2010.
• Casino Grand Lisboa's daily net-win per mass market gaming table increased by 23.5%, net-win per VIP table increased by 7.8% and net-win per slot machine increased by 12.2%.
• New VIP gaming areas opened on the 38th and 39th floors of the Grand Lisboa in September 2010, and the new Grand Lotus gaming area for premium mass market customers opened in February 2011.
• A final dividend of HK30 cents per ordinary share has been proposed.

Speaking on the annual results, Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, said, "We are very pleased that SJM's net profit and Adjusted EBITDA rose to record levels in 2010 and that the growth in our revenues exceeded that of the booming Macau market.  We believe that these results, combined with our financial strength, put us in a very favourable position for the future."

Further information on SJM Holdings Limited including the Group's audited consolidated financial statements for the year ended 31 December 2010 can be found on www.sjmholdings.com.