New Investments of US$43.1m

Macau Property Opportunities Fund
24 October 2007



                   Macau Property Opportunities Fund Limited
                            ('MPO' or the 'Company')

                          New Investments of US$43.1m


Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited,
today announces US$43.1 million of further property investments, comprising:
     
•    a well-positioned 10,500-square foot mixed-use redevelopment project
     on Macau Peninsula with a total investment value of US$26.6 million; and

•    a number of attractively priced and strategically located individual
     properties for an aggregate consideration of US$16.5 million

Since Admission to AIM, the Company has committed US$191 million or
approximately 101% of its total equity raised and continues to negotiate on a
further eight sites totalling approximately US$450 million in combined
acquisition value.


Mixed-Use Redevelopment


Key Points:

•    The 10,500-square foot freehold site is located close to Macau's main
     historic square and tourist epicentre on Macau Peninsula.

•    MPO is investing a total of US$26.6 million in the project, comprising an 
     acquisition price of US$15.85 million and an expected redevelopment cost of
     US$10.75 million.

•    The property is a key pipeline site presented to investors during the
     Company's IPO road show.

•    The Company is planning a mixed-use project for the site incorporating
     prime retail and entertainment space targeted towards the local retail and
     tourism market.

•    The acquisition is being funded entirely out of the Company's existing cash 
     resources, but the Company is seeking debt financing for the redevelopment
     portion of the project.

The property is adjacent to and clearly visible from Senado Square, one of the
top tourist destinations on Macau Peninsula. The square forms part of Macau's
World Heritage district which is rich in architectural beauty and significance.
The constant and ever-increasing pedestrian traffic in the area has created a
sought after location for shopping outlets, driving retail property prices and
rentals to amongst the highest levels in Macau. It is the current intention of
the Company to redevelop the property into a six storey building consisting of
prime retail and entertainment space.

The acquisition is subject to delivery of vacant possession by the vendors and
to some rights of usage by a third party to the basement area of the building.
The Company is progressing discussions with the third party with the intention
of coming to mutual agreement during the planning process. Both these factors
have been fully reflected in the final acquisition price of the property.


Other Investments

The Company has also acquired, in a series of separate purchases, a number of
smaller individual properties in various strategic locations across Macau,
within its defined market segments, for an aggregate consideration of US$16.5
million.

These properties have been purchased by MPO as part of an ongoing scheme of
acquiring well-located and attractively priced property assets, which the
Company believes offer significant capital appreciation as investment properties
in their own right or through consolidation, refurbishment or redevelopment. The
Company will continue to update shareholders on its progress as it acquires
further properties under this scheme.

David Hinde, Chairman of MPO said: 'We are very pleased to have secured this
strategic site. The acquisition follows a long and complicated negotiation
process and clearly illustrates the Manager's expertise and commitment to the
Company's stated strategy of acquiring well-positioned assets within target
market segments.

Furthermore, the Company's niche strategy of purchasing smaller individual
properties on an opportunistic basis, demonstrates the Manager's versatile
approach to sourcing investments which maximise potential returns for
shareholders.'


                                    --Ends--


About Macau Property Opportunities Fund

Macau Property Opportunities Fund (MPO), which raised £105 million in a Placing
and commenced trading on the Alternative Investment Market of the London Stock
Exchange on 5 June 2006, is a closed-end investment company incorporated in
Guernsey. MPO focuses on investing in property opportunities primarily in Macau,
but also potentially in the Western Pearl River Delta region and in exceptional
circumstances, greater China. The Company's investment policy is to provide
shareholders with an attractive total return, which is expected to comprise
primarily capital growth, but with the potential for dividends over the medium
to long term.

The Manager of MPO is Sniper Capital Limited and the Investment Adviser is
Sniper Capital Management Limited.


About Sniper Capital Limited

Sniper Capital is an independent investment manager specialising in property
investment in niche, undervalued and developing markets. The Company's
investment strategy is to identify, acquire and develop properties clearly
differentiated by location, value and sustainability of demand. Sniper Capital
currently manages two funds with combined assets of US$250 million.


For further information:

Website: www.mpofund.com

Public Relations
Hogarth Partnership Limited
Andrew Jaques / Sarah Richardson
Tel: [phone]

Nominated Adviser and Joint Broker
Collins Stewart Europe Limited
Hugh Field
Tel: [phone]

Joint Broker
Shore Capital Stockbrokers Limited
Dru Danford
Tel: [phone]

Company Secretary & Administrator
Heritage International Fund Managers Limited
Mark Huntley / Laurence McNairn
Tel: [phone]

Manager
Sniper Capital Limited
Investor Contact
Tel: [phone]
Email: [e-mail]
www.snipercapital.com

Stock Codes:

Bloomberg:  MPO LN
Reuters:    MPO.L


                      This information is provided by RNS
            The company news service from the London Stock Exchange