First phase of Long An SEA divestment completed

4 January 2013

Vietnam Infrastructure Limited

First phase of Long An SEA divestment completed

Vietnam Infrastructure Limited (the "Company" or "VNI") (VNI.L), the first publicly traded fund to focus on investment into infrastructure assets in Vietnam, has entered a conditional agreement to divest its stake in the Long An SEA mixed use project ("Long An", the "Project") with domestic joint venture partner, Dong Tam Group ("DTG").

As a combined asset, Long An is a 1,925-hectare Greenfield project in Long An Province, 30km south of Ho Chi Minh City. The project is divided into four components, comprising a 396ha industrial park, a 236ha industrial service area, a 1,145ha residential area and a 145ha sea port with 2.4km of frontage. VNI has long held stakes in the Project's industrial park (37.5 percent), sea port (50.0 percent) and industrial service area (37.5 percent). The Company does not have any stake in the Project's residential area.

On 24 December 2012, VNI finalized the stated 'conditions precedent' for the sale of two of the Project's components; the industrial park and sea port, to DTG. As a result, VNI has received USD11.2 million in cash. The total Project consideration will beUSD17.3 million for VNI's entire stake in Long An, which is equal to VNI's book value for the Project. Following the completion of the remaining 'conditions precedent' and receipt of cash for the Project's industrial service area, expected in 1H 2013, the Company will provide a further update to the market. Additionally, as all costs to date have been recorded as development costs, VNI has had no profits or losses attributable to the Project. 

Commenting, VNI's Managing Director Tony Hsun stated, "by divesting our position in the Long An mixed use project, we can focus proceeds towards a few major private equity investment opportunities, allocating more capital to expand our existing private equity investments and supporting the recently approved share buyback programme."

Notes to Editors:

About VinaCapital

VinaCapital is a leading investment management and real estate development firm in Vietnam, with a diversified portfolio of USD1.6 billion in assets under management. VinaCapital was founded in 2003 and boasts a team of managing directors who bring extensive international finance and investment experience to the firm. Our mission is to produce superior returns for investors by using our experience and knowledge to identify the key trends and opportunities that emerge as Vietnam continues to develop its economy. To achieve this, VinaCapital has industry-leading asset class teams covering capital markets, private equity, fixed income, venture capital, real estate and infrastructure.

VinaCapital manages three closed-end funds trading on the AIM Market of the London Stock Exchange. These funds are: VinaCapital Vietnam Opportunity Fund Limited (VOF), VinaLand Limited (VNL), and Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages the DFJ VinaCapital L.P. technology venture capital fund with Draper Fisher Jurvetson.

VinaCapital has offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang, Phnom Penh (Cambodia) and Singapore. More information about VinaCapital is available at www.vinacapital.com

More information on Vietnam Infrastructure Limited is available at www.vinacapital.com/vni.

Enquiries:

David DropseyVinaCapital Investment Management LimitedInvestor Relations/Communications+84 8 821 9930[email protected]

Philip Secrett

Grant Thornton Corporate Finance, Nominated Adviser

+44 (0)20 7583 5100

[email protected]

 Hiroshi FunakiEdmond de Rothschild Securities, Broker+44 20 7845 5960[email protected]

David Benda / Hugh JonathanNumis Securities Limited, Broker+44 (0)20 7260 1000Mark WaltersFTI Consulting, Public Relations (Hong Kong)+852 3716 9802[email protected]

Andrew WaltonFTI Consulting, Public Relations (London)+44 (0)20 7269 7204[email protected]