Replacement - Return of Capital

RNS Number : 4008J

Macau Property Opportunities Fund

29 June 2011

This announcement replaces the one released at 16.14 on 29 June 2011 with RNS Number 3912J. The only alteration to the earlier announcement is that the B Share redemption Price and the B Share Dividend should have read 10.75772356 pence.

29 June 2011

Macau Property Opportunities Fund Limited

(the "Company")

Return of Capital - Announcement of Redemption of B Shares and Dividend Payment to holders of B Shares

Further to its announcement on 21 June 2011 of the approval of proposals to return US$17.9 million (£11.05 million in sterling terms) to Shareholders in accordance with the Circular dated 25 May 2011 (the "Circular"), the Company confirms that Shareholders on the register as at 5.30 p.m. on 21 June 2011 received a bonus issue of B Shares on 22 June 2011 on the basis of one B Share for every Ordinary Share held.

97,409,748 B Shares that were elected or were deemed to have been elected for the B Share Redemption have subsequently been redeemed at a Redemption Price of 10.75772356 pence per B Share. These redeemed B Shares were immediately cancelled and are not available for re-issue.

A dividend of 10.75772356 pence per B Share will be paid in respect of the remaining 5,390,252 B Shares that were elected or were deemed to have been elected to receive the B Share Dividend, following which each such B Share will be converted into a Deferred Share carrying the limited rights set out in the Circular. All Deferred Shares will be redeemed on 13 July 2011 for an aggregate price of £0.01.

In accordance with the timetable set out in the Circular, it is expected that monies in respect of both the B Share Dividend and the B Share Redemption will be paid to Shareholders on or around 12 July 2011. Payments made to Shareholders will be denominated in sterling.

- Ends -

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey. Its shares began trading on AIM in June 2006, when it raised £105 million in an institutional placing, before moving to the Main Market of the London Stock Exchange in June 2010. The Company's investment policy is to provide shareholders with an attractive total return through investing in property opportunities in one of the world's fastest growing and most dynamic regions - Macau and the Western Pearl River Delta of Southern China.

The Fund is managed by Sniper Capital Limited, an independent investment manager that specialises in property investment, development and redevelopment opportunities in niche, undervalued and developing markets.

For further information:

Website: www.mpofund.com

Corporate Broker

Collins Stewart Europe Limited

David Yovichic / Dominic Waters

Tel: +44 20 7523 8000

Manager - Investor Contact

Sniper Capital (Hong Kong) Limited

Tel: +852 2292 6700

Email: info@snipercapital.com

www.snipercapital.com

Company Secretary & Administrator