Dividend Declaration

22 December 2009


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

                            Announcement of Dividend


AfricaOpportunity  Fund Limited is pleased to announce that a quarterly dividend
of US$0.0026 per share will be paid on 9 January 2009. The shares will be marked
ex-dividend on 30 December 2009 and the record date will be 4 January 2010. This
is  the fourth instalment of an aggregate  annual dividend of an amount equal to
the  product of Net Asset  Value on 31 December 2008 multiplied  by the one year
LIBOR rate (as derived from Bloomberg) on the 2 January 2009. This is payable in
four equal quarterly instalments of which this is the final payment.

For further information please contact:

Africa Opportunity Fund Limited
Francis DanielsTel: [phone]


Grant ThorntonCorporate Finance (Nominated Adviser)
Philip SecrettTel:  [phone]


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






[HUG#1366444]