Mongolia Growth Group Ltd. Announces Cancellation of Stock Options and Issuance Of Options To Directors

Toronto, Ontario (FSCwire) - Mongolia Growth Group Ltd. (YAK - TSXV)(“MGG” or the “Company”) announces that various employees and a consultant have agreed to forfeit and cancel 615,000 options with exercise prices between CDN $4.00 and CDN $4.77.

The Company also announces today that a total of 640,000 5-year, stock options to purchase shares of MGG at an exercise price of CDN $0.74 per share have been granted to directors and officers subject to TSX Venture Exchange approval.  These options have been issued pursuant to the Company’s Stock Option Plan in order to attract, retain and motivate existing directors, officers and employees of the Company.  The stock options and shares issuable on exercise thereof will be subject to a hold period of four months and one day from the date of issuance.

For further information on the Corporation, please visit www.mongoliagrowthgroup.com

or contact:

Genevieve Walkden

Gwalkden@mongoliagrowthgroup.com
Tel: 807 346-8688

Mongolia Growth Group Ltd. is a publicly traded and leading property investment and development company in Ulaanbaatar, Mongolia. MGG owns an extensive property portfolio, in diversified segments of the property market, with an emphasis on institutional-grade commercial assets.

MGG undertakes its own property acquisitions, develops brownfield land assets and repositions outdated properties, relying on in-house services for all facets of both the investment portfolio and development side of the business. In addition, MGG acts as a full-service third party provider for institutional clients and tailors transactions covering acquisition-to-suit, build-to-suit, as well as refurbish-to-suit, for property owners and major tenants.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Information Cautionary Statement

Information and statements contained in this Letter to Shareholders that are not historical facts are “forward-looking information” within the meaning of applicable Canadian securities legislation and involve risks and uncertainties.

Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. MGG cautions the reader that such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking information.

Such risks and uncertainties include, but are not limited to: risks associated with investment in and redevelopment of real property in Mongolia; competition, financing and refinancing risks; risks to the consumer mortgage market; a lack of correlation between disposable income and consumption; risks related to economic conditions; risks related to mining and mining development in Mongolia; risks related to regulation of the real estate in Mongolia; political risk in Mongolia; changes in Mongolian taxation rules; reliance on key personnel; environmental matters; tenant risks; and other risk factors more particularly described in MGG's filings with Canadian securities regulators, which filings are available at www.sedar.com.

Additional risks and uncertainties not presently known to MGG or that MGG currently believes to be less significant may also adversely affect MGG. Forward-looking information is designed to help you understand management’s current views of our near and longer term prospects, and it may not be appropriate for other purposes. MGG does not undertake any obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except to the extent legally required.

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