Results of tender offer

19 February 2009

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

                       Results of tender offer

Africa Opportunity Fund Limited (the "Company") announces that the
Company has received irrevocable tender forms from its shareholders
in respect of 72,879,673 ordinary shares in the Company, which
represent 63.09 per cent. of the issued ordinary shares eligible for
tender pursuant to the tender offer that was announced on 4 February
2009.

The tender offer has not been declared unconditional and remains
subject to the tender offer resolution approving its implementation
being passed at the Company's EGM,  which is to be held at 1:00pm
(UCT) on 26 February 2009. The Company expects to announce the final
results of the EGM and the tender offer on or around that date.

For further information please contact:

Africa Opportunity Fund Limited
Francis Daniels                                   Tel: [phone]

Grant Thornton UK LLP (Nominated Adviser)
Philip J Secrett                                    Tel: [phone]
5100

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