Macau Property Regulatory News (MPO)

23 May 2011

Macau Property Opportunities Fund Limited

("MPO" or the "Company")

Transaction in Own Shares

The Board of Macau Property Opportunities Fund Limited announces that on 20 May 2011, the Company purchased 525,000 of its own ordinary shares. The highest price paid was 136.5p per share and the lowest price paid was 130p per share. These shares will be cancelled.

The purchase represents 0.51% of the Company's total outstanding shares in issue. Following cancellation of the shares, the issued share capital of the Company will be 102,800,000 ordinary shares.

Further opportunistic purchases of MPO shares may be considered by the Board at suitably attractive prices.

--Ends--

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, development and redevelopment 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 - Investor Contact

Sniper Capital (Hong Kong) Limited

Joyce Lo

Corporate & Investor Strategy

Tel: +852 2292 6700

Email: info@snipercapital.com

www.snipercapital.com

Stock Codes:

Bloomberg: MPO LN

Reuters: MPO.L