Net Asset Value(s)

12 October 2011

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

The Company announces that at close of business on 30 September 2011 its unaudited net asset value per share was USD1.35. The previous unaudited net asset value at 30 June 2011 was USD1.38.

About the Company:

VinaLand Ltd ("VNL") is a closed-end fund trading on the AIM Market of the London Stock Exchange. The fund focuses on key growth segments within Vietnam's emerging real estate market, including residential, office, retail, hospitality and township (large-scale) projects. The manager's objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. The fund is managed by VinaCapital Investment Management, with VinaCapital Real Estate acting as development adviser. More information is available at www.vinacapital.com/vnl.