Directorate Change

Aqua Resources Fund Limited

(the "Company")

Directorate Change

21st June 2012

Resignation of Mr Jonathan G Hooley

The Board of the Company announces the resignation of Mr Jonathan G Hooley as non-executive director of the Company with effect from 20th June 2012.

Mr Hooley was appointed as non-executive director to the Board in July 2011 and sat on both the Audit Committee and Management Engagement Committee. He leaves the Board as part of a general reduction of his commitments, following his election as a Jurat of the Royal Court in Guernsey. 

The Board expresses its deepest appreciation to Mr Hooley for his contribution to the Company, and wishes him well in his future endeavours.

Appointment of Mr Charles Parkinson

The Board of the Company announces the appointment of Mr Charles Parkinson as an independent non-executive director, and Chairman of the Audit Committee, with effect from 1st July 2012.

Resident in Guernsey, Mr Parkinson was formerly the Minister of Treasury and Resources for the States of Guernsey. Prior to this he held the Deputy Minister of Treasury and Resources position from 2004-2007.

He is also a Director of Burford Capital Limited and Sirius Real Estate Limited, both AIM traded companies, a Director of Mapeley Limited, part of Fortress Investment Group, Dexion Equity Alternative Limited, a UK listed Guernsey company with K2 Advisers LLC as its investment adviser and a Director of Bailiwick Investments Limited, a company listed on the Channel Islands Stock Exchange.

He is a past Partner/Director of PKF Guernsey, accountants and fiduciaries, and retired from this position after being there from 1983-2004. Mr. Parkinson is also a barrister and an accountant.

Mr Parkinson will replace Mr Jonathan Hooley, who resigned as a non-executive director of the Company with effect from 20th June 2012.

Commenting on the appointment, Mr Hasan Askari, Chairman of Aqua, said: "I am delighted that Charles has chosen to join the Company. He has a wealth of experience advising private equity funds and I look forward to the contribution he will bring to the Board at an important time for the Company".

An announcement regarding the listing of the Company's shares will be made shortly.

For further enquiries:

Aqua Resources Fund Limited

Hasan Askari, Chairman

FourWinds Capital Management, Investment Manager [email protected]

Kimberly Tara, Chief Executive Officer

Jui Kian Lim, Head of Asia Environment Group

Valerie Daoud Henderson, Head of Europe Environment Group

Cenkos Securities plc, Corporate Broker

Will Rogers +44 (0)20 7397 1920

Dion Di Miceli +44 (0)20 7397 1921

HSBC Securities Services (Guernsey) Limited, Administrator

+44 (0) 1481 707 000

Citigate Dewe Rogerson, PR Advisor

Kevin Smith /Lindsay Noton +44 (0) 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.