Vinaland Limited : VNL ZDP divestment of Vina Properties Pte

21 January 2014

VinaLand ZDP Ltd

Divestment of Vina Properties Pte.

VinaLand ZDP Ltd, admitted to the main market of the London Stock Exchange, announces that today its parent company VinaLand Limited (''the Company or "VNL") made the following announcement:

Ho Chi Minh City - VinaLand Limited, the AIM-quoted investment vehicle established to target strategic segments within Vietnam's emerging real estate market, announces that it has divested its stake in Vina Properties Pte Ltd. which owns a 5-star hotel located in Ho Chi Minh City.

The asset is an operating 278-room 5-star hotel which also includes restaurants, an electronic gaming operation, and retail areas. The hotel, which is situated in Ho Chi Minh City between the city centre and the airport, was acquired by VNL in 2007 and refurbished in 2010 to capitalise on the fast growing tourism business in Ho Chi Minh City. Since the reopening of the hotel, the four to five star hotel segments in Ho Chi Minh City have experienced significant increases in room supply which has impacted the hotel's performance. The Company's stake in the project resulted in net proceeds of USD16.1 million which is 19.0 percent above the net asset value at 31 December 2013. As a result of the divestment, the Company's debt from the consolidated balance sheet has also been reduced by USD1.7 million.

Speaking on the transaction, Managing Director, David Blackhall stated, "The closure of this transaction is the sixth exit since VNL's EGM on 21 November 2012, where shareholders supported a new three year term which included a new strategy focused on the realisation of selected assets. This divestment is consistent with the Company's strategy to divest hospitality assets over the next two years. The proceeds will be utilised to fund future distributions to shareholders and ongoing operating costs."

Enquiries:

David Dropsey
VinaCapital Investment Management Limited
Investor Relations/Communications
[phone]
[e-mail]

Chris de Puton
Jupiter Secretaries Limited
[phone]
[e-mail]

Hiroshi Funaki/ Andrew Davies
Edmond de Rothschild Securities, Broker
[phone]
[e-mail]

David Benda / Hugh Jonathan
Numis Securities Limited, Broker
[phone]
[e-mail]

Andrew Walton
FTI Consulting, Public Relations (London)
[phone]
[e-mail]