Closing of Fundraising

Vietnam Opportunity Fund Limited
15 November 2007


Vietnam Opportunity Fund Limited
('VOF' or the 'Company')

15 November 2007


Closing of fundraising

The Board of Directors would like to announce the closing of the Company's
seventh round of fundraising.  Due to the response received, the Directors have
decided to increase the size of the proposed fundraising to approximately
US$285,000,000 million.  This will involve the issue of approximately 77,445,652
new ordinary shares at US$3.68 per share.

A further announcement to clarify the amount raised will be made once all funds
have been received from investors.

Should you require more information about the fund raising, please contact one
of the following persons:


Ms. Chi Nguyen
Investor Relations
Phone: [phone]
Direct: 84 8 827 8258
Email: [e-mail]

Mr. Philip Secrett
Grant Thornton Corporate Finance
Phone: [phone]

Mr. Hiroshi Funaki
LCF Rothschild Securities Limited
Phone: [phone]




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