Net Asset Value

Aseana Properties Limited
22 August 2007

Date:           22 August 2007

On behalf of:   Aseana Properties Limited ('Aseana' or 'the Company')





Aseana Properties Limited
•  Net Asset Value



Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in
Malaysia and Vietnam, today announces that at close of business on 30 June 2007,
its unaudited net asset value per share is US$0.968.





Enquiries:


Aseana Properties Limited                                Contactable via Redleaf

Redleaf Communications                                   Tel: [phone]
Emma Kane / Samantha Robbins                             Email: [e-mail]

Fairfax I.S. PLC                                         Tel: [phone]
James King





Notes to Editors



•   Ireka Development Management, the Manager, is a wholly-owned
subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia
since 1993, which has 40 years of experience in construction and property
development.



•   The Company will typically invest in development projects at the
pre-construction stage, with a primary focus on location within the major cities
of Malaysia and Vietnam.



•   Investment will be made in projects where it is believed there will
be a minimum 30% annualised return on equity ('ROE') on investments in Vietnam
and a minimum 20% ROE on investments in Malaysia.



•   No one underlying single asset will account for more than 30% of the
gross assets of the Company at the time of investment.



•   It is the intention that the Net Proceeds of the Placing will be
fully invested in accordance with the investment policy within 12 months of
Admission.



•   The Directors believe the following factors should provide
sustainable growth in the real estate sectors of both Malaysia and Vietnam:

    o  An increasing standard of living and urbanisation driven by a
       burgeoning young and middle class population

    o  Clear Government role in encouraging participation of private sectors
       in real estate development, as well as encouraging and promoting land and
       property ownership

    o  Improving availability of mortgages to encourage property ownership

    o  Favoured Foreign Direct Investment (FDI) destinations driving demand
       for commercial and industrial properties




                      This information is provided by RNS
            The company news service from the London Stock Exchange