Net Asset Value(s)

6 November 2008

                        Africa Opportunity Fund Limited                        

Africa Opportunity Fund Limited (AIM: AOF) announces that as at close of
business on 31 October 2008, its unaudited net asset value per share was
US$0.591.

For further information please contact:

Africa Opportunity Fund Limited

Francis Daniels Tel: [phone]

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett/Adam Suggett Tel: [phone]