Holding(s) in Company

Aseana Properties Limited
01 June 2007

                     Aseana Properties Ltd ('the Company')

                              Notifiable Interest


A form TR-1 containing the following information has been received by the
Company.

TR-1 notification of major interests in shares
 1.  Identity of the issuer or the underlying issuer of existing shares to which
     voting rights are attached:
     Aseana Properties Ltd

 2.  Reason for the notification
     An acquisition or disposal of voting rights

 3.  Full name of person(s) subject to the notification obligation:
     JPMorgan Chase & Co

 4.  Full name of shareholder(s) (if different from 3):
     JF Asset Management Limited
     JPMorgan Asset Management (UK) Limited

 5.  Date of the transaction (and date on which the threshold is crossed or
     reached if different):
     10 April 2007

 6.  Date on which issuer notified:
     11 May 2007 (by fax)

 7.  Threshold(s) that is/are crossed or reached:
     5%

 8.  Notified details:
     A: Voting rights attached to shares

Class/type   Situation previous  Resulting situation after the triggering
of shares    to Triggering       transaction
             transaction
if possible
using ISIN   Number  Number of   Number of    Number of voting    % of
CODE         of      Voting      shares       rights
             Shares  Rights
                                                                 voting rights
                                 Direct       Direct Indirect    Direct Indirect
Ordinary     Below   Below 5%    8,324,500    8,324,500          5.13
shares       5%
JE00B1RZDJ41



B: Financial Instruments

Resulting situation after the triggering transaction
Type of     Expiration Exercise /     Number of voting rights that may   % of
financial   date       Conversion     be acquired if the instrument is   voting
instrument             Period / Date  exercised/ converted               rights

N/A

Total (A+B)

Number of voting rights                      % of voting rights
8,324,500                                    5.13

  9.  Chain of controlled undertakings through which the voting rights and/or
      the financial instruments are effectively held, if applicable:
      Total disclosable holding for JPMorgan Case & Co. : 8,324,500 (5.13%)
      Holdings by controlled undertakings of JPMorgan Chase & Co. are as
      follows:
      JF Asset Management Limited
      JP Morgan Asset Management (UK) Limited

 10.  Name of the Proxy holder:
      N/A

 11.  Number of voting rights proxy holder will cease to hold:
      N/A

 12.  Date on which proxy holder will cease to hold voting rights:
      N/A

 13.  Additional information:
      The disclosure is due to purchases made on 10 April 2007 but was triggered
      by observation of the addition of the issuer to the 30 April 2007 FSA list
      of non-EEA issuers and recognition by our system on 8 May 2007 that the
      issued share capital had been reduced on Bloomberg from 250m to 162m.

 14.  Contact name:
      Michael Kirwan

 15.  Contact telephone number:
      0207 325 1413



.............................................
Heather Bestick
On behalf of Walkers Secretaries Limited
Aseana Properties Ltd



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