TT International Fds - Appointment of Sub-Investment Manager

STOCK EXCHANGE ANNOUNCEMENT

For Immediate Release 19 January 2012

TT International Funds plc (the "Company")

Re: Appointment of Sub-Investment Manager

The Directors of the Company wish to announce that the Investment Manager has appointed TT International (Hong Kong) Limited as Sub-Investment Manager of the TT Asia-Pacific Equity Fund and the TT Emerging Markets Equity Fund pursuant to a Sub-Investment Management Agreement dated 16 December 2011 (the "Agreement").

The Sub-Investment Manager is a limited company organised under the laws of Hong Kong having its principal office at 606-608, St. George's Building, 2 Ice House Street, Central Hong Kong. As at 30 November (Stuttgart: A0Z24E - news) 2011 the Sub-Investment Manager had approximately €522 million of assets under management. The Sub-Investment Manager is regulated by the Securities and Futures Commission of Hong Kong and has already been approved by the Central Bank (Other OTC: CBSU.PK - news) to act as Investment Manager to Irish-authorised UCITS.

TT International (Hong Kong) Limited is a wholly-owned subsidiary of the Investment Manager.

The fees paid to the Sub-Investment Manager are paid by the Investment Manager. The Agreement is terminable by either party upon 90 days' prior written notice or with immediate effect if the other party is dissolved or is unable to pay its debts or commences a case, or is the subject of a petition to commence a case in bankruptcy under the laws of its incorporation or establishment or if an administrator is appointed over any of its assets or if any event having an equivalent effect occurs.

Under the Agreement the Sub-Investment Manager shall not be liable to the Investment Manager or otherwise for any loss suffered by the Investment Manager in connection with the subject matter of the Agreement or any matter or thing done or omitted to be done by the Sub-Investment Manager in pursuance thereof other than by reason of any loss to the Investment Manager arising from the fraud, bad faith, negligence, wilful default or wilful misfeasance in the performance or non-performance by the Sub-Investment Manager of its duties thereunder.

The Investment Manager shall indemnify the Sub-Investment Manager against all claims, direct losses and direct damages, which may be brought against or suffered or incurred by the Sub-Investment Manager in the performance of its obligations or duties thereunder but excluding tax on the overall income or profits of the Sub-Investment Manager save to the extent that such claims, losses and damages are attributable to the fraud, bad faith, negligence, wilful default or wilful misfeasance in the performance or non-performance by the Sub-Investment Manager of its duties thereunder.

Enquiries to;

This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.