PACL.L Regulatory News (PACL)

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

PACIFIC ALLIANCE CHINA LAND FUND LIMITED

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

MIO Partners, Inc., on behalf of the entities listed in item 4

4. Full name of shareholder(s) (if different from 3.):iv

1. Barfield Nominees Limited A/C SLI01

2. Barfield Nominees Limited A/C CSJ01 FBO Compass

Special Situations Fund LLC

3. Barfield Nominees Limited A/C CSC01

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

March 23, 2016

6. Date on which issuer notified:

March 23, 2016

7. Threshold(s) that is/are crossed orreached: vi, vii

26.38% (see schedule A)

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

KYG6846J1067

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

*PLEASE SEE SCHEDULE A ATTACHED HERETO*

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

*PLEASE SEE SCHEDULE A ATTACHED HERETO*

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

MIO Partners, Inc. ("MIO") is:

the managing member of Compass Special Situation Fund LLC, the beneficial owner of Barfield Nominees Limited A/C CSJ01 FBO Compass Special Situations Fund LLC, which is a custody account held with Northern Trust Guernsey Limited ("NTGL");

the manager of Compass COSS Master Limited, the beneficial owner of Barfield Nominees Limited A/C CSC01, which is a custody account held with NTGL;

the manager of SSALT Fund Limited, the beneficial owner of Barfield Nominees Limited A/C SLI01, which is a custody account held with NTGL.

NTGL is authorized to act on behalf of the accounts when instructed to do so by MIO.

Proxy Voting:

10. Name of the proxy holder:

MIO Partners, Inc., on behalf of the entities first listed in item 4

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

14. Contact name:

Jonathan Greenstein

15. Contact telephone number:

1-212-203-4417

Shareholder Managed

Situation Previous to the Triggering Transaction

Resulting Situation After the Triggering Transaction

No. of Shares

No. of Voting Rights

No. of Shares

No. of Voting Rights

% of Voting Rights

Direct

Direct

Indirect

Direct

Indirect

Barfield Nominees Limited A/C SLI01

11,581,351

11,581,351

11,581,351

11,581,351

11.15%

Barfield Nominees Limited A/C CSJ01 FBO Compass Special Situations Fund LLC

6,121,650

6,121,650

6,121,650

6,121,650

5.89%

Barfield Nominees Limited A/C CSC01

9,104,967

9,104,967

9,704,967

9,704,967

9.34%

TOTALS

26,807,968

26,807,968

27,407,968

27,407,968

26.38%