Announcement of Dividend

23 September 2010


            Africa Opportunity Fund Limited ("AOF" or "the Company")

                            Announcement of Dividend


Africa Opportunity Fund Limited is pleased to announce that a quarterly dividend
of  US$0.0018 per  share will  be paid  on 11 October  2010. The shares  will be
marked  ex-dividend on 29 September  2010 and the record  date will be 1 October
2010. This  is the third instalment of an aggregate annual dividend of an amount
equal  to the product of  Net Asset Value on  31 December 2009 multiplied by the
one  year LIBOR rate (as derived from  Bloomberg) on the 4 January 2010. This is
payable in four equal quarterly instalments of which this is the third, with the
following payment expected to be made January of 2011.

For further information please contact:

Africa Opportunity Fund Limited
Francis Daniels                   Tel: [phone]


Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett                      Tel:  [phone]


LCF Edmond de Rothschild Securities Limited (Nominated Broker)
Claire Heathfield/Hiroshi Funaki       Tel: [phone]


[HUG#1446463]








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Source: Africa Opportunity Fund Ltd via Thomson Reuters ONE