Net Asset Value(s)

25 January 2013

VinaLand Limited (the "Company" or "VNL")

Net Asset Value

The Company announces that, at its close of business on 31 December 2012, its unaudited net asset value was USD516.3 million or USD1.07 per share. This represents a 3.6 percent decline from a net asset value per share of USD1.11 from its close of business on 30 September 2012.

About the Company:

VinaCapital VinaLand Ltd ("VNL") is a closed-end fund trading on the AIM Market of the London Stock Exchange. The fund focuses on key growth segments within Vietnam's emerging real estate market, including residential, office, retail, hospitality and township (large-scale) projects. The manager's objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. The fund is managed by VinaCapital Investment Management, with VinaCapital Real Estate acting as development adviser.

More information is available at www.vinacapital.com/vnl 

Enquiries:

David Dropsey

VinaCapital Investment Management Limited

Investor Relations/Communications

+84 8 821 9930

david.dropsey@vinacapital.com

Philip Secrett

Grant Thornton Corporate Finance, Nominated Adviser

+44 (0)20 7383 5100

philip.j.secrett@uk.gt.com

Hiroshi Funaki

Edmond de Rothschild Securities, Broker

+44 (0)20 7845 5960

funds@lcfr.co.uk

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

+44 (0)20 7260 1000

d.benda@numis.com

Andrew Walton

FTI Consulting, Public Relations (London)

+44 (0)20 7269 7204

andrew.walton@fticonsulting.com