Holding(s) in Company

Aseana Properties Limited
30 August 2007

                   Aseana Properties Limited ('the Company')
                              Notifiable Interest



Notification of major interests in shares - the following information has been
received by the Company.

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

Aseana Properties Ltd

2. Reason for the notification

An acquisition of voting rights

3. Full name of person(s) subject to the notification obligation:

Ospraie Management, LLC

4. Full name of shareholder(s) (if different from 3):

As 9 below.

5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

13 August 2007

6. Date on which issuer notified:

14 August 2007

7. Threshold(s) that is/are crossed or reached:

5 %

8. Notified details:

A: Voting rights attached to shares
Class/type of shares Situation previous to Resulting situation after the triggering transaction
                     Triggering
if possible using    transaction           Notification required under DTR transitional provision 7
ISIN CODE

                     Number of  Number of  Number of      Number of voting rights % of voting rights
                     Shares     Voting     shares
                                Rights

                                           Direct         Direct       Indirect   Direct   Indirect


Ordinary shares      Below 5%   Below 5%   n/a            n/a          8,133,500  n/a      5.01%

JE00B1RZDJ41





B: Financial Instruments
Resulting situation after the triggering transaction


Type of financial Expiration date     Exercise/           Number of voting       % of voting rights
instrument                            Conversion Period/  rights that may be
                                      Date                acquired if the
                                                          instrument is
                                                          exercised/ converted


n/a               n/a                 n/a                 n/a                    n/a

Total (A+B)
Number of voting rights                              % of voting rights


8,122,500                                            5.01%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

In the narrative below, the figures in brackets indicate the amount of voting
rights and the percentage held by controlled undertakings where relevant.

Ospraie Management, LLC (8,133,500, 5.01%), a discretionary investment manager,
is a controller of the Ospraie Portfolio Ltd (8,122,500 5.01%)

10. Name of the Proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

The shares referred to in section 9 above are held in a portfolio managed by
those firms on a discretionary basis for its client.

14. Contact name:

Michael Fischer

15. Contact telephone number:

001 212 602 5000


Ospraie Management, LLC
320 Park Avenue
27th Floor
New York
NY 10022
USA





.............................................
Geraldine Harris
On behalf of Walkers (Jersey) Limited - Company Secretary
Aseana Properties Limited





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