Real Estate Investment

13 Feb 2007 11:45

VinaLand Limited13 February 2007 VinaLand Limited VinaLand Limited Announces Significant Real Estate Investment in Ho Chi Minh City Hospitality Market Ho Chi Minh City, Vietnam, February 13, 2007 - VinaLand Limited ("VNL" or, the "Company") (AIM: VNL), the investment company admitted to trading on the AIMmarket of the London Stock Exchange plc is pleased to announce the successfulpurchase of a 52.5% interest in the Omni Saigon Hotel for US$16.5 million. The Omni Saigon Hotel has been in operation since 1993 and enjoys a convenientlocation in Vietnam's premier business city. Located minutes away from Ho ChiMinh International Airport, and a 15-minute drive from the central businessdistrict, the 249-room hotel is managed under license from Marco Polo Hotels, aleading luxury hotel company in the Asia-Pacific region. In keeping with the Company's investment strategy, the Company's investmentmanager, VinaCapital Investment Management Ltd ("VinaCapital"), has devotedconsiderable efforts to identify the most profitable investment projects inVietnam. VinaCapital believes Vietnam's travel and leisure market is anattractive investment and expects the hotel segment, especially in Ho Chi MinhCity, to be a strong performer due to rising demand from tourists and businesstravelers and an extremely limited supply of rooms. VNL's investment comes at the conclusion of successful negotiations with OmniSaigon Hotel's foreign-domiciled shareholders. Vietnam Opportunity Fund Limited(AIM: VOF), another closed-end investment company admitted to trading on the AIMmarket and managed by VinaCapital, will be a co-investor and hold a 17.5%interest in the property. The Company may invite additional co-investors toparticipate in this project in the future. About VinaLand Limited VinaLand Limited (AIM: VNL) is a US$204 million, closed-end property investmentcompany admitted to trading on the AIM market of the London Stock Exchange plc.Admitted to trading in March 2006, the company focuses on key growth segmentswithin Vietnam's emerging real estate market, namely residential, office,retail, industrial, and leisure projects. VinaLand is managed by VinaCapitalInvestment Management Limited ("VinaCapital"), a fund management and advisorybusiness operating out of offices in Ho Chi Minh City and Hanoi. VinaCapitalReal Estate Limited acts as development adviser to VinaCapital. For further information, please contact: Ms. Chi NguyenInvestor RelationsVinaCapitalchi.nguyen@vinacapital.com or (84 8) 821 9930www.vinacapital.com Claire HeathfieldLCF Rothschild Securitiesfunds@lcfr.co.uk or (44) 207 845 5960www.countryfunds.co.uk Philip SecrettGrant Thornton Corporate Finance(44) 207 383 5100 Talia DrukerBrian CattellFinsbury GroupTel: +44 (0) 20 7251 3801 Bloomberg code: VNL LN EquityReuters code: VNL.L This information is provided by RNS The company news service from the London Stock Exchange