Gaming Revenue up 43%
Adjusted EBITDA up 53%; Net Profit up 85%

 (Hong Kong, 17 May 2011) – SJM Holdings Limited (the "Company") today announced unaudited key performance indicators of the Company and its subsidiaries (collectively the "Group") for the three months ended 31 March 2011 ("Q1 2011").

During Q1 2011, the Group's VIP gaming revenue was HK,748 million, an increase of 54% from HK,282 million in Q1 2010, mass market gaming revenue was HK,015 million, an increase of 22% from HK,122 million, and slot machine revenue was HK8 million, an increase of 35% from HK9 million. The Group's total revenue during Q1 2011 of  HK,271 million included hotel, catering and related services revenue of HK0 million   (Q1 2010: HK million).

During Q1 2011 the Group operated an average of 565 VIP gaming tables (Q1 2010: 411), 1,179 mass market gaming tables (Q1 2010: 1,361) and 3,943 slot machines (Q1 2010: 4,614) (average of three month-end counts).

Total VIP chips sales for the Group during Q1 2011 were HK3.9 billion (Q1 2010:  HK8.5 billion), and the VIP gaming hold percentage (before commissions and discounts) was 2.81% (Q1 2010: 2.87%).

During Q1 2011, the Grand Lisboa Hotel achieved an average occupancy rate of 88.3% and average room rate of HK,055 per night, as compared with average occupancy rate of 72.2% and average room rate of HK,924 in Q1 2010.

Capital expenditure of the Group during Q1 2011 was HK5 million, which was primarily for work on the upper floors of Grand Lisboa, for phase 3 of Ponte 16 Resort and for equipment purchases. As at 31 March 2011, the Group had total cash of HK,735 million and debt of HK,852 million (excluding convertible bonds of nominal value of HK3 million, which were subsequently converted into equity during April 2011).

Speaking on the first quarter results, Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, said "SJM has turned in its ninth consecutive quarter of growth, with strong performance in both VIP and mass market gaming, continuing the growth momentum of 2010.  SJM's Adjusted EBITDA Margin has also increased materially, reflecting the operating leverage that we are obtaining in this expanding market."

Further information on SJM Holdings Limited can be found on www.sjmholdings.com.