Riviera Update

31st March 2010

Speymill Macau Property Company PLC

("Speymill Macau" or "the Company")

Speymill Macau, the Macau focused real estate investment fund, (the "Company") has launched the sale of units in Tower 1 of the Riviera development (formerly known as Lorcha). The Riviera is a two tower residential development located on the Inner Harbour area of Macau Peninsula and Tower 1 has 290 total units, of which the Company owns 145 units. The Company also owns 114 units in Tower 2 of the development and has decided to hold off marketing them at this time. To date, buyers for a total of 110 units owned by the Company in Tower 1 of Riviera have signed Provisional SPAs, a contract under which the buyer agrees to sign a Formal SPA and pay 10% of the purchase price within 7 days. Each provisional SPA is secured by a HK$100,000 deposit paid by the buyer. Formal SPAs should begin to be signed shortly. The average price of the 110 units with signed Provisional SPAs is HK$3,532 psf. This represents gross proceeds (after discounts granted to the buyers under various payment option schemes) of approximately HK$ 406 million. Expected net proceeds from the sales, inclusive of VIP discounts and commissions, are HK$394m, or HK$3,428 psf. which is expected to be not materially different from the valuation of these units set forth in the Company's latest interim statement. Ninety seven percent of the net proceeds will be paid to the developer in order to reduce the Company's outstanding debt. Negotiated prices for the sales of units are completed on an apartment by apartment basis and negotiations are ongoing. The Company will update the market periodically as sales continue.

Enquiries

For more information, please visit www.speymillmacau.com or contact:

Speymill Property Group Limited Galileo Fund Services Limited

(Manager) (Administrator)

Nigel Caine, CFO Funds Ian Dungate

Nick Harris, Manager Suzanne Jones

+44 1624 640 860 +44 1624 692600

Matrix Corporate Capital LLP

(Nominated Adviser)

Paul Fincham

Jonathan Becher

+44 20 3206 7000

Notes to Editors:

Speymill Macau Property Company plc ("Speymill Macau" or the "Company")

·; Speymill Macau was incorporated and registered in the Isle of Man on 31 October 2006 and is a closed-ended investment company registered in the Isle of Man and traded on AIM, a market of the London Stock Exchange.

·; The Company was established to invest primarily in the Macau property market. This includes pursuing selective commercial property investments to capture expected ancillary Macau service sector growth. The Company was admitted to AIM on 17 November 2006 raising US$ 80 million in a placing on admission. A second fundraising of US$ 70 million was completed in May 2007. The Company's objective is to provide shareholders with an attractive overall return to be achieved primarily through long-term capital growth.

·; Macau is one of only two Special Economic Regions, a semi-autonomous administrative area, in China, and has enjoyed explosive economic growth, in part due to its establishment as an important gambling centre which has led to high historical and forecast GDP growth, driven by rising incomes and low unemployment levels. Coupled with the limited availability of land, developers are now struggling to meet a stronger than anticipated demand for higher quality housing. The Company intends to exploit these favourable market dynamics with the aim of generating attractive oveall returns for shareholders.

Speymill Property Group Limited ("SPG") is the Manager of the Company and the Investment Adviser is Speymill Property Group (Far East) Limited, a wholly owned subsidiary of SPG.