Quarterly report

Vietnam Opportunity Fund Limited
25 February 2005


For immediate release
25 February 2005

Vietnam Opportunity Fund Limited (the 'Company')
Quarterly report

A Quarterly Report detailing the activities of the Company for the period ended
31 December 2004, has been issued by the Manager of the Company. Electronic
copies of the report have been emailed to shareholders and can also be
downloaded from VinaCapital Investment Management Limited website at http://
www.vinacapital.com/download_reports.asp.

Copies of the report will also be available, free of charge from the offices of
Grant Thornton Corporate Finance, Grant Thornton House, Melton Street, Euston
Square, London NW1 2EP or, the offices of Vinacapital Investment Management Ltd,
17/F, Sun-Wah Tower, Ho Chi Minh City, Vietnam , for a period of 30 days from
the date of this announcement.




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