Charity arm of Cambodian conglomerate engages local community as key stakeholders for upcoming 834-ha project

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SIHANOUKVILLE, CAMBODIA -
Media OutReach - 15 February 2021- Prince Charitable Foundation, the charitable
arm of Prince Holding Group ('Prince Group'), one of Cambodia's largest and
fastest growing conglomerates, has distributed care packages to 500 families
living at Ong village in Prey Nob district, Cambodia.
The village is situated near the site of the Ream City project, an 834-hectare
project being developed on reclaimed land near the Sihanoukville International
Airport that is set to transform the region. The gesture of goodwill
took place last week and senior management from Canopy Sands Development, a
member of Prince Group, also took the opportunity to consult local leaders to
understand the community's needs. The aid campaign at
Ong Village is the latest environment, social and governance (ESG) initiative
of Prince Group.�

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Each care package contained 25 kilograms of rice, one mat,
one blanket, two pillows, one mosquito net and one Khmer Krama (traditional
scarves woven in the countryside). It will be the first of many efforts to
support the local community, especially as Prince Group envision
an important role for residents in the development of the coastal project. Upon completion, Ream City aims to
house up to 130,000 residents and will potentially bring housing estates,
themed shopping malls, schools and hospitals, bringing a boost to the local
economy.

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Prince Group has focused on providing items to help
residents with their daily needs at a time when rural Cambodians are facing
considerable economic challenges. "We are serious about engaging with local
communities and establishing a good relationship with them -- they are key stakeholders for
the Ream City project. Not only do we consider it our duty as a responsible
corporate actor to provide assistance in these challenging times, we believe
local residents will play an important role as part of our workforce due to the
scale of the Ream City project," said Mr.
Khong Weng Fook, Managing Director of Canopy
Sands Development. "Currently, about 70
locals are employed at the Ream City project. In
time, we will look to impart the necessary skills through upskilling and other
human empowerment efforts to further engage local residents for the project."

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Over the course of the aid campaign, management from
Prince Group liaised with Mr. Sor Kakada, District Chief for Prey Nob, to
better understand the needs of residents. They were advised that there is a
need for better healthcare facilities. As Prey Nob is situated outside
Sihanoukville, basic medical facilities are not readily available. As such,
Prince Group will investigate the feasibility of establishing healthcare
dispensaries for the local community.

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Ream City will lead to substantial employment
opportunities for Cambodians and support the growth of the Sihanoukville
International Airport, which is expected to see its capacity increase from 3.6
million passengers to 10 million passengers by the end of the decade. Through
the distribution of essential aid, Prince Group hopes that a constructive dialogue
can be established between local communities and the developers to ensure a
productive long-term relationship.

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Prince Group's ESG strategy has a
three-prong focus on healthcare, education and
community engagement. Last year,
the Group made several
large-scale donations to help in the fight against the pandemic and assist
flood victims in Cambodia. Till date, the Prince Charitable Foundation
Organization has organized more than 240 charitable events and donated funds
and other materials worth more than US$11 million, benefitting more than
320,000 people. Neak
Oknha Chen Zhi, Chairman of Prince Group, has also
personally donated US$3 million to help Cambodia purchase
1 million COVID-19 vaccines.

About Prince Charitable Foundation Organization

Being dedicated to public charity, advocating corporate duty, and
promoting social harmony and progress, Prince Charitable Foundation
Organization, a member of Prince Holding Group, focuses on social welfare
projects, including municipal development and ecological protection with
specific attention towards helping school dropouts, disabled, and the elderly.
With a national mandate, Prince Charitable Foundation was seeded with US$1
million by Prince Holding Group, with the sum procured from the sales revenue
of properties. It has also attracted a significant amount of donation from
other individuals and organization. Prince Charitable Foundation Organization
has launched more than 240 charity events, benefiting 320,000 people, with
donations exceeding $11 million.