Quarterly Investor Update

Aseana Properties Limited
28 March 2008


Date:               28 March 2008

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

                    For immediate release

Aseana Properties Limited

•   Quarterly Investor Update


Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in
Malaysia and Vietnam, announces that it has today issued a Quarterly Investor
Update for the period ended 31 December 2007.  Electronic copies of the report
can be obtained on its website at the following link: 

http://www.aseanaproperties.com/investorsrelations.htm


Aseana Properties is listed on the Main List of the London Stock Exchange.


Enquiries:


Redleaf Communications                         Tel: [phone]
Samantha Robbins / Adam Leviton                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