Change of Adviser

Vietnam Opportunity Fund Limited
14 October 2004


Vietnam Opportunity Fund Limited (the 'Company')




Change of adviser



With effect from 1 November 2004, following the expiry of the notice period
under its current brokerage arrangements with Collins Stewart Limited, the
Company will be formally appointing LCF Rothschilds Securities Limited as its
market broker.


Dated 14 October 2004




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