Announcement of Dividend

25 March 2010


            Africa Opportunity Fund Limited ("AOF" or "the Company")

                            Announcement of Dividend


AfricaOpportunity  Fund Limited is pleased to announce that a quarterly dividend
of  US$0.0018 per share will be paid on 12 April 2010. The shares will be marked
ex-dividend  on 31 March 2010 and the record  date will be 6 April 2010. This is
the  first instalment of an aggregate annual  dividend of an amount equal to the
product  of Net Asset Value on 31 December 2009 multiplied by the one year LIBOR
rate  (as derived from Bloomberg) on the 4 January 2010. This is payable in four
equal  quarterly  instalments  of  which  this  is the first, with the following
payments expected to be made in July, October of 2010 and January of 2011.

For further information please contact:

Africa Opportunity Fund Limited
Francis DanielsTel: [phone]


Grant ThorntonCorporate Finance (Nominated Adviser)
Philip SecrettTel:  [phone]


LCF Edmond de Rothschild Securities Limited (Nominated Broker)
Claire Heathfield/Hiroshi FunakiTel: [phone]






[HUG#1397550]