Result of EGM

AQUA RESOURCES FUND LIMITED

RESULT OF EGM

23rd March 2011: The Board of Directors of Aqua Resources Fund Limited ("Aqua"), the Authorised Closed-ended investment scheme managed by FourWinds Capital Management and established to invest in global water opportunities, is pleased to announce that the Special Resolutions, as set out below, were duly passed at its extraordinary general meeting held earlier today.

1. To adopt new Articles of Incorporation for the Company; and

2. To disapply statutory pre-emption rights.

Further enquiries:

FourWinds Capital Management, Investment Manager [email protected]

Kimberly Tara, Chief Executive Officer

Valerie Daoud Henderson, Head of Europe Environment Group

Jui Kian Lim, Head of Asia 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

Secretary +44 (0) 1481 707 000

Citigate Dewe Rogerson, PR Advisor

Sarah Gestetner / Lindsay Noton+44 (0)20 7638 9571

Notes to Editors

The Company 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.

The Company was incorporated on 12 June 2008 and its ordinary shares were admitted to 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 invests 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.

The company ticker is H2O.