Return of Capital and disposal

13 January 2011

China Growth Opportunities Limited

('China Growth' or 'the Company')

Sale of shareholding in China Metal Packaging Group Company Limited

Company Update

Return of Capital

Sale of China Metal Packaging Group Company Limited

China Growth announces that it has today sold its entire shareholding in China Metal Packaging Group Company Limited ("CMP") back to CMP for a cash consideration of US$6 million (£3.8 million).

The CMP investment was held in the Company's half year accounts at 30 September 2010 at a value of ₤4.2 million.

As a result of the sale, Brett Miller has also stepped down from CMP's Board of Directors.

Company Update

The Company now holds 2 remaining investments:

·; China CDM Exchange Limited ("China CDM"): 9,369,900 ordinary shares;

·; Wan Wei Oil and Gas Technology Group ("Wan Wei"): this interest is comprised of an unsecured £2.7 million convertible loan note in Honest Mind Investments Limited, and a 24% equity interest in Starlight Viewpoint Limited. These entities are both registered in the BVI and in turn are invested in Wan Wei.

China CDM's shares are traded on the PLUS Market. Since their appointment, the Directors have actively sought to dispose of this investment. However, all efforts to seek trade, corporate or investment buyers have been unsuccessful. The Company has sold a very limited number of shares in the market but there is extremely low liquidity in the shares. As at 13 January 2011, the bid price of China CDM shares was 3p, giving the Company's holding a value of £281,097. In the opinion of the Directors, the application of a liquidity discount for valuation purposes would reduce this value substantially.

In the Company's 31 March 2010 Annual Report and Financial Statements, it was reported that the Company had agreed to sell its entire holding in Wan Wei for a total of US$750,000, which was due in three equal instalments in September 2010, December 2010 and March 2011. However, as announced on 16 November 2010, the Company did not receive the first payment and the sale has now aborted.

Although the convertible loan note is due in May 2012, the Directors do not believe that Wan Wei will be in a position to redeem the loan note on even a partial basis. On the basis of unaudited accounts reviewed by the Directors, Wan Wei has incurred significant losses in the 18 months to August 2010. As the result of bad debt problems Wan Wei lacks sufficient working capital to advance the business and as at 31 August 2010, had less than US$100,000 in gross cash balances.

On the basis of the aborted sale and the likely inability of Wan Wei to even partially redeem the convertible loan note given its financial position, the Directors had written-down the value of the Company's interest in Wan Wei to nil at 30 September 2010.

Return of Capital

Following the sale of shares in CMP referred to above, the Directors of the Company today announce a further Return of Capital of 6p per ordinary share, payable to shareholders of the Company as follows:

Following the above Return of Capital (of 6p per ordinary share), and after accrued expenses, the Company's net cash position will be £1.3 million.

For further information, please visit www.chinagrowthopportunities.com, or contact: