Director Shareholding

Vietnam Opportunity Fund Limited
30 January 2008



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

30 January 2008



Director/PDMR Shareholding


VinaCapital Investment Management Ltd. (VCIM) today announces that it has
acquired 235,342 ordinary shares in VOF at a price of US$2.9598 per share. As a
consequence of his interest in the parent company to VCIM, Horst Geicke now has
an indirect interest in VOF of 235,342 ordinary shares in addition to his
existing direct interest of 1,775,000 ordinary shares.



Enquiries:

Ms. Chi Nguyen
VinaCapital Investment Management Limited, Investor Relations
Phone: [phone]



Philip Secrett
Grant Thornton Corporate Finance, Nominated Adviser
Phone: [phone]



Hiroshi Funaki
LCF Edmond de Rothschild Securities
Phone: [phone]
[e-mail]






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