Net Asset Value

15 January 2016

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

Net Asset Value

The Company announces that, as its close of business on 31 December 2015, its unaudited net asset value (NAV) was USD391.0 million or USD0.938 per share. This represents a 3.89% increase from a net asset value per share of USD0.903 from its close of business on 30 September 2015. The increase in NAV per share reflects the positive impact of project revaluations, disposal of the NPV project and the ongoing share buyback during the fourth Quarter of 2015.

More information on the Company is available at www.vnl-fund.com

Enquiries:

Jonathon Trewavas

VinaCapital Investment Management Limited

Investor Relations/Communications

+84 8 3821 9930

[email protected]

Philip Secrett

Grant Thornton UK LLP, Nominated Adviser

+44 (0)20 7383 5100

[email protected]

Hiroshi Funaki / Andrew Davies

Edmond de Rothschild Securities, Broker

+44 (0)20 7845 5960

[email protected]

David Benda / Hugh Jonathan

Numis Securities Limited, Broker

+44 (0)20 7260 1000

[email protected]

Andrew Walton

FTI Consulting, Public Relations (London)

+44 (0)20 7269 7204

[email protected]