Quarterly report

Vietnam Opportunity Fund Limited
04 May 2004


4 May 2004


Vietnam Opportunity Fund Limited ('The Company')

Quarterly Report

A Quarterly Report detailing the activities of the Company in its second quarter
on AIM, has been issued by the VinaCapital Investment Management Limited, the
Manager of the Company. Copies of the report will be sent to shareholders and
will be available for download from the Manager's website at www.vinacapital.com
and also (free of charge) from the offices of Grant Thornton Corporate Finance, 
Grant Thornton House, Melton Street, Euston Square, London NW1 2EP or the 
offices VinaCapital Investment Management Limited, Unit 1703, Sun Wah Tower, 
115 Nguyen Hue Boulevard, District 1, Ho Chi Minh City, Vietnam, for a period of 
30 days from the date of the report.

Contact:
Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett 0207 383 5100

Collins Stewart (Stock broker)
Paul Richards 020 7523 8350





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