Macau Property Regulatory News (MPO)

Macau Property Opportunities Fund Limited

(the "Company")

Director Shareholding

The Board of the Company received notification today that Sniper Investments Limited ("Sniper Investments") acquired on 8 & 9 December 2010, a further 89,500 ordinary shares of US$0.01 each ("Ordinary Shares") in the Company at 117.00p per Ordinary Share.

Tom Ashworth and Martin Tacon, directors of the Company's Manager, Sniper Capital Limited, (the "Principals") have a beneficial interest in Sniper Investments. Tom Ashworth is also a non-executive director of the Company. Sniper Investments is therefore a connected person of both of the Principals.

Following this acquisition, Sniper Investments has a direct beneficial interest, and the Principals have an indirect beneficial interest, in the Company of 5,239,500 Ordinary Shares, representing 4.99% of the issued share capital of the Company.

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About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey. Its shares began trading on AIM in June 2006, when it raised £105 million in an institutional placing, before moving to the Main Market of the London Stock Exchange in June 2010. The Company's investment policy is to provide shareholders with an attractive total return through investing in property opportunities in one of the world's fastest growing and most dynamic regions - Macau and the Western Pearl River Delta of Southern China.

The Fund is managed by Sniper Capital Limited, an independent investment manager that specialises in property investment opportunities in niche, undervalued and developing markets.

For further information:

Website: www.mpofund.com

Public Relations

MHP Communications

Simon Hockridge / Andrew Jaques

Tel: +44 20 3128 8100

Corporate Broker

Collins Stewart Europe Limited

David Yovichic / Dominic Waters

Tel: +44 20 7523 8361 / +44 20 7523 8473

Company Secretary & Administrator

Heritage International Fund Managers Limited

Mark Huntley / Laurence McNairn

Tel: +44 1481 716000

Manager

Sniper Capital Limited

Joyce Lo

Tel: +852 2292 6700

Email: info@snipercapital.com

www.snipercapital.com

Stock Codes:

Bloomberg: MPO LN

Reuters: MPO.L