Director Shareholding

28 July 2010

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

Director Shareholding

VinaLand Limited ("VNL" or "The Company") today announces that VinaCapital Investment Management Ltd. ("VCIM"), the investment manager of the Company, acquired 460,000 ordinary shares of US$0.01 ("Ordinary Shares") in VNL at a price of US$0.78 per Ordinary Share between 22 and 27 July 2010. As a result of this transaction, VCIM is interested in 872,583 Ordinary Shares which represents 0.17 percent of VNL's total voting rights.

As a consequence of his interests in the parent company to VCIM, Horst Geicke, a director of VNL, now has an indirect interest in VNL of 872,583 Ordinary Shares in addition to his existing direct interest in 2,750,000 Ordinary Shares of VNL.

As a consequence of his interest in the parent company to VCIM, Don Lam, a director of VNL, now has an indirect interest in VNL of 872,583 Ordinary Shares in addition to his existing direct interest in 2,457,250 Ordinary Shares of VNL.

Enquiries: Michael L. Gray VinaCapital Investment Management Limited Investor Relations/Communications +84 8 821 9930 [email protected]

Hiroshi Funaki +44 20 7845 5960 LCF Edmond de Rothschild Securities, Broker [email protected]

Philip Secrett Grant Thornton, Nominated Adviser +44 20 7383 5100 [email protected]

Alastair Hetherington Financial Dynamics, Public Relations (Hong Kong) +852 3716 9802 [email protected]

Andrew Walton Financial Dynamics, Public Relations (London) +44 2072697204 [email protected]

Notes for editors:

About VinaLand Limited VinaLand Limited (VNL.L) is a closed end fund trading on the London Stock Exchange (AIM). Launched in 2006, VNL is the largest listed fund for investment in Vietnam's emerging real estate sector. The fund focuses on the key growth sectors including residential, office, retail, hospitality and leisure, and high tech/industrial properties. The manager's objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. More information can be found at www.vinacapital.com/vnl.

About VinaCapital Group VinaCapital Group is the leading asset management and financial services group in Vietnam. The Group combines its deep market experience and networks to generate strategic investment and financing products, alongside merger and acquisition activities. VinaCapital manages total assets valued at USD1.8 billion at May 2010. VinaCapital also has a dominant stake in VinaSecurities JSC, a brokerage firm. VinaCapital currently employs over 200 investment personnel in its offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang and Hong Kong. More information on the Group can be found at www.vinacapital.com.