Director/PDMR Shareholding

Africa Opportunity Fund Limited                        

                              Director's Dealing                               

Africa Opportunity Fund Limited (the "Company") (AIM: AOF) was informed on 12
June 2008 that on 9 June 2008 Francis Daniels, a Director of the Company,
purchased 250,000 ordinary shares of $0.01 each at $0.93 per share. Following
this purchase, Francis Daniels has a total of 1,250,000 ordinary shares
representing 1.0 per cent. of the Company's total voting rights.

12 June 2008

For further information please contact:

Africa Opportunity Fund Limited

Francis Daniels Tel: [phone]

Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett/Cha Patel Tel: [phone]

LCF Edmond de Rothschild Securities Limited (Nominated Broker)

Claire Heathfield/Hiroshi Funaki Tel: [phone]