Directorate Change

Vietnam Opportunity Fund Limited
14 October 2004


Vietnam Opportunity Fund Limited (the 'Company')


Appointment of Director


The Company is pleased to announce that William Weeks Vanderfelt (aged 61) will
be appointed as a Non-executive Director at the Board meeting to be held on 27
October 2004.

In accordance with paragraph F of Schedule 2 of the AIM Rules Mr Vanderfelt's
past and present Directorships over the past five years are listed below:


Current

Compagnie Immobiliere de Belgique S.A., Brussels
BFS US Special Opportunities Trust Plc
Energy Capital Investment Company Plc
Galleries Royales Saint-Hubert, Brussels
Petercam S.A Luxembourg
Renaissance US Growth Investment Trust Plc
R.P&C International Limited
Securinfor, Paris


Past

FTV Group Plc
Healthcare Reform Investment Trust Plc
Petercam Banque Privee (Suisse) S.A
SB Holdings Limited


The Company confirms that no other details are required to be disclosed under
paragraph F of Schedule 2 of the AIM Rules with respect to Mr Vanderfelt, except
that:

1) he is a director of Energy Capital Investment Company Plc, which entered into
members' voluntary (solvent) liquidation in 14 July 2004. All ECIC's creditors
are expected to be paid in full, together with applicable statutory interest,
and a return on capital made to the shareholders of the company by way of
distributions in the liquidation.

2) he was a director of Healthcare Reform Investment Trust plc , which went into
members' voluntary liquidation in on 16 July 1998 which resulted in the company
being fully dissolved as at 2 September 2003 with no continuing creditor
defiencies.

Dated 14 October 2004




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