HONG KONG SAR -
Media OutReach - 23 February 2021
- Suncity Group Holdings Limited ("Suncity", Hong Kong Stock Exchange
code: 1383) and Summit Ascent Holdings Limited ("Summit Ascent",
Hong Kong Stock Exchange code: 102), are pleased to announce that staff in Tigre
de Cristal has started to receive Russia's self-developed Sputnik V COVID-19 vaccination.
This is a move by the Government to safeguard the health and safety of the
Russian citizens, our staff and our guests, as well as a move to prepare the country
to go back to normal soon.

As a number of countries in the world are rolling out mass COVID-19
vaccination programmes, the
normalisation of the economy and the re-opening of international borders
are just around the corner.

The Russian Federation has begun vaccinations in Moscow early in
December 2020, among the first countries to launch its vaccination programme in
the world, and has already approved mass use in other cities including
Vladivostok, where Tigre de Cristal is located.

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Tigre de Cristal has taken the highest precautionary measures
recommended by the Russia authorities to the highest standards, such as turning
off every other slot machine and capping the seating capacity in restaurants. Compliance
to these rules has reduced the ability of Tigre de Cristal to generate revenue.
A silver lining is that Tigre de Cristal is an integrated resort not
only visited by international travellers, but also an integrated resort well-attended
by locals. Since the reopening of Tigre de Cristal after the temporary closure
in 2020, Tigre de Cristal has recorded a decent recovery in the mass table and
slot businesses in the second half of 2020. The
injection of the vaccine to our staff offers a glimpse of hope that business
could soon return to normal. Currently, Tigre de Cristal's Phase I upgrade on
hardware such as the newly decorated Suncity VIP room, the brand-new authentic
hot pot restaurant and the gentlemen's club are now ready to welcome international travellers
when the borders reopen.

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Phase II of
Tigre de Cristal is well under way, and will triple the existing number of
hotel rooms, as well as doubling in the number in its current gaming
facilities. Phase II will also feature additional leisure and entertainment
facilities such as the finest restaurants serving authentic Asian delicacies,
ranging from Korean barbecue to international flavours serving fresh seafood;
as well as a state-of-the-art indoor beach club. With the COVID-19
vaccination programme now being available to the general public, we are
certain that both the Phase I upgrade and Phase II will soon be generating
accretive business volumes to the Group in the direct VIP, junket VIP, premium
mass, mass and slots businesses as international travel gradually resumes.

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Mr. Chau Cheok
Wa, Chairman of Suncity, also Chairman of Summit Ascent, said, "The vaccine is
a breakthrough in humanity because this is an indication that humans can win
the pandemic. I cannot be more grateful to the Russian Government, the research
and medical staff in Russia for their tireless work in developing the vaccine
and their determination to go back to the normal lives where people are allowed
to travel freely. Their decisive and ambitious actions to prioritise
vaccinating Russian citizens, including our employees working in Tigre de
Cristal, is a tell-tale sign to us that Asia is on its way back to normality.
When our customers from across Asia are allowed to travel again, I am certain
that this will mark a new era for outstanding business performance in Summit
Ascent, especially Suncity will fully back Summit Ascent as it is now a
subsidiary of Suncity."

About Suncity Group Holdings Limited (HKEx stock code: 1383)

Suncity Group Holdings Limited ("Suncity")
is en-route to become a leading integrated resort operator in Asia. Originated
from Macau, Suncity develops, operates and manages integrated resorts across
Asia, including Vietnam, the Philippines, Russia, and Japan.

Suncity holds approximately 69.66% of Summit
Ascent Holdings Limited (HKEx: 102), the operator of the largest integrated
resort Tigre de Cristal in Vladivostok, Russia. Through Summit Ascent, Suncity participates in the development of
future phases of Tigre de Cristal. Summit Ascent holds 77.5% in Tigre de
Cristal, currently the largest integrated resort located in the Primorye
Integrated Entertainment Zone of the Russian Far East. Situated midway from the
Vladivostok International Airport to Vladivostok city, the administrative
centre of the Russian Far East, Tigre de Cristal is ideally located
geographically in the heart of Northeast Asia.

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Hoiana is the first flagship integrated
resort that Suncity jointly develops with our investment partners. Located in
Central Vietnam, Hoiana is only 35 minutes away from the Danang International
Airport and is located near to top tourist attractions in Danang and Hoi An.
Hoiana is a world-class integrated resort with branded hotels, state-of-the-art
gaming floors, multiple F&B restaurants, award-winning golf course and long
pristine beaches.

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Suncity is also the controlling shareholder of Suntrust Home Developers, Inc.
(PSE: SUN), who is developing the Westside City Integrated Resort in the heart
of Entertainment City in Manila, the Philippines. Suncity also offers
consultancy services to large scale integrated resorts in Asia. In addition,
Suncity operates in the travel related product and services segment and the
property segment.

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Adhering to the spirit of "Innovating With
Diversity, Striving For Success", Suncity spared no effort to develop entertainment
and integrated resort products. Originated from Macau, Suncity actively
explores integrated resort opportunities around the world.

For more information about Suncity, please visit http://www.suncitygroup.com.hk/?lang=en

About Summit Ascent Holdings Limited (HKEx stock code: 102)

Summit Ascent Holdings Limited ("Summit Ascent") holds 77.5% in Tigre de Cristal, currently
the largest integrated resort located in the Primorye Integrated Entertainment
Zone of the Russian Far East. Situated midway from the Vladivostok
International Airport to Vladivostok city, the administrative centre of the
Russian Far East, Tigre de Cristal is ideally located geographically in the
heart of Northeast Asia.

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Summit Ascent holds a gaming license granted by the Russian government
for an indefinite period, and Tigre de Cristal has opened for business since
late 2015, offering a broad range of gaming options on a 24/7 basis. Tigre de
Cristal has been certified as a five-star hotel with retail offerings, food and
beverage outlets, private club, and named "Russia's Leading Resort" by World
Travel Awards.

For more information about Summit Ascent, please visit https://www.saholdings.com.hk/eng/