Director Declaration

Directors' Declaration

27th July 2011

Aqua Resources Fund Limited ("Aqua"), the Authorised Closed-ended investment scheme.

With reference to the appointment of:

Mr Jonathan G Hooley as a non-executive Director of Aqua on the 25th July 2011,

Aqua confirms the following information required under Listing Rule 9.6.13:

a. In accordance with Listing Rules 9.6.13 (1):

Mr Hooley is a non-executive Director of BlueCrest AllBlue Fund Limited and F&C Commercial Property Trust Limited, companies listed on the London Stock Exchange.

Mr Hooley was also a non-executive Director of Princess Private Equity Holding Limited between 1st October 2007 to 6th May 2009.

b. There are no details to be disclosed in respect of Mr Hooley under Listing Rules 9.6.13 (2) to 9.6.13 (6).

Enquiries:

Aqua Resources Fund Limited

Hasan Askari, Chairman

FourWinds Capital Management, Investment Manager

Kimberly Tara, Chief Executive Officer

Valerie Daoud Henderson, Head of Europe Environment Group

JuiKian Lim, Head of Asia Environment Group

[email protected]

Cenkos Securities plc, Corporate Broker

Will Rogers +44 207 397 1920

Dion Di Miceli +44 207 397 1921

HSBC Securities Services (Guernsey) Limited, Administrator

Tel: +44 (0) 1481 707 000

Citigate Dewe Rogerson, PR Advisor

Kevin Smith / Lindsay Noton +44 207 638 9571

Notes to Editors

Aqua is a Guernsey-domiciled Authorised Closed-ended investment scheme pursuant to section 8 of the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended and rule 6.02 of the Authorised closed-ended Investment Schemes Rules 2008.

Aqua's ordinary shares were admitted to listing on the Official List of the UK Listing Authority and to trading on the main market for listed securities of the London Stock Exchange plc on 24th July 2008.

Aqua's investment objective is to provide long term capital appreciation through exposure to a diversified portfolio of water-related investments. Aqua will invest principally in businesses that are involved in i) water treatment and recycling (i.e. wastewater and recycling, water treatment and purification), ii) water infrastructure (i.e. water distribution) or iii) water application and conversion (water-to-energy and desalination) with the objective of capturing the growth opportunities emerging from the attractive long-term dynamics driving the water industry.