Sale of Sky House

RNS Number : 0088B

Macau Property Opportunities Fund

28 March 2013

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

MPO sells The Sky House for US$19.4 million

Transaction completed at 23% premium to latest valuation

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, today announces the sale of The Sky House - a luxury penthouse spanning the top three floors of Tower 3, One Central Residences located on Macau Peninsula.

The property was sold on 27 March 2013 for a gross consideration of HK$150 million (c. US$19.4 million). This represents a 23% premium to the asset's latest valuation as at 31 December 2012.

The deal was completed in full following the receipt of 100% of the transaction value from the buyer.

The sale generated a net profit of HK$47.1 million (c. US$6 million) over the original acquisition cost of HK$98 million (c. US$12.8 million) in April 2012, after all associated fees and transaction costs. This equates to a return on equity investment of 92%.

Use of Proceeds

Part of the proceeds arising from the sale will be used to repay the outstanding HK$48.6 million (c. US$6.3 million) loan on the asset. The remaining net proceeds will enhance MPO's cash position by US$12.8 million and will contribute towards further share repurchases*, and in exceptional cases, new acquisitions.

David Hinde, Chairman of MPO, said: "The Sky House acquisition proved to be an exceptional deal, with its disposal generating a significant return for our shareholders. Furthermore, it confirms our stance that demand for luxury private homes in Macau remains strong."

* MPO has been in a self-imposed Close Period prior to the announcement of this transaction and has therefore been prevented from conducting any recent share buybacks.

- Ends -

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey and listed on the London Stock Exchange Main Market.

Launched in 2006, the Company targets strategic property investment and development opportunities in Macau and Mainland China's western Pearl River Delta. Its current $400 million portfolio comprises a mix of well-positioned residential, retail and logistics property assets.

The Fund is managed by Sniper Capital, an Asia-based property investment manager with an established track record in Fund Management, Investment Advisory and Property Management.

For further information:

Company Registration Number 44813

Website: www.mpofund.com

Public Relations

MHP Communications

Simon Hockridge / Andrew Jaques

Tel: +44 20 3128 8100

Manager

Sniper Capital Limited

Tel: +65 6222 1440 (Investor Contact)

Tel: +853 2870 5151 (Fund Advisor)

Email: info@snipercapital.com