Director/PDMR Shareholding

VietNam Holding Limited
31 May 2007

31 May 2007



                            Vietnam Holding Limited


                               Directors dealing


Vietnam Holding Limited (the 'Company') wishes to announce that on 24 May 2007 a
director of the Company, John J. Hoey, acquired 50,000 ordinary shares of $1.00
each (the 'Ordinary Shares') at a price of $2.18 per share and on 29 May 2007
acquired a further 50,000 Ordinary Shares at a price of $2.19 per share.


Following these share purchases, Mr. Hoey holds 100,000 Ordinary Shares
representing  0.18 per cent. of the total voting rights of the Company.




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