Notice of AGM

Aqua Resources Fund Limited

(the "Company")

23 May 2012

The Company announces that it has posted a Notice of Annual General Meeting to Shareholders convening an Annual General Meeting ("AGM") on 29th June 2012 at 10:30a.m. at Arnold House, St. Julian's Avenue, St. Peter Port, Guernsey, GY1 3NF.

A copy of the AGM Notice is available as a link to this announcement and from the Company's website. Please click on, or paste, the following link into your web browser, to view the associated PDF document.

http://www.aquaresourcesfund.com/documents/Aqua_AGM_Notice_and_Agenda_2012-06-29.pdf  

A copy of the AGM Notice has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do.

Further enquiries:

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 24 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.