Director/PDMR Shareholding

Alternative Asset Opportunities PCC Limited

14 December 2012

NOTIFICATION OF TRANSACTIONS OF DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

1. Name of the issuer

Alternative Asset Opportunities PCC Limited

2. State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2R; (ii) a disclosure made in accordance LR 9.8.6R (1); or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006)

(i)

3. Name of person discharging managerial responsibilities/director

David Ian Wishart Reynolds

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

Relates to Mrs Dorothy Alice Reynolds (spouse)

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

Relates to person named in 4 above

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Redeemable participating preference shares of no par value

7. Name of registered shareholder(s) and, if more than one, the number of shares held by each of them

David Ian Wishart Reynolds - 39,600

Mrs Dorothy Alice Reynolds - 36,000

8. State the nature of the transaction

Sale of Open Offer Shares.

9. Number of shares, debentures or financial instruments relating to shares acquired

N/A

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

N/A

11. Number of shares, debentures or financial instruments relating to shares disposed

16,000 (Mrs D A Reynolds)

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

0.02%

13. Price per share or value of transaction

45.5p

14. Date and place of transaction

14 December 2012, London

15. Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

59,600 redeemable participating preference shares; 0.08%

16. Date issuer informed of transaction

14 December 2012

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant

N/A

18. Period during which or date on which it can be exercised

N/A

19. Total amount paid (if any) for grant of the option

N/A

20. Description of shares or debentures involved (class and number)

N/A

21. Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise

N/A

22. Total number of shares or debentures over which options held following notification

N/A

23. Any additional information

 N/A

 24. Name of contact and telephone number for queries

Peter Ingram, 020 7065 1467

 Name of duly authorised officer of issuer responsible for making notification

Peter Ingram, Company Secretary

Date of notification

14 December 2012