VNL net asset value March 2011

11 April 2011

VinaLand Limited (the "Company" or "VNL")

The Company announces that at close of business on 31 March 2011 its unaudited net asset value per share was USD1.37. The interim result announced for 31 December 2010 was USD1.36.

About the Company:

VinaLand Ltd ("VNL") is a closed-end fund trading on the AIM Market of the London Stock Exchange. The fund focuses on key growth segments within Vietnam’s emerging real estate market, including residential, office, retail, hospitality and township (large-scale) projects. The manager’s objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. The fund is managed by VinaCapital Investment Management Ltd. More information is available at www.vinacapital.com/vnl.