VNL net asset value December 2010

For Immediate Release

11 January 2011

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

The Company announces that at close of business on 31 December 2010 its unaudited net asset value per share was USD1.38. The previous unaudited net asset value per share at 30 September 2010 was USD1.41 per share.

About the Company:

VinaLand Ltd ("VNL") is a closed-end fund trading on the AIM Market of the London Stock Exchange. VOF targets medium- to long-term capital gains with some recurring income and short-term profit taking. Primary investment focus areas are: privately negotiated equity investments; undervalued/distressed assets; privatisation of state-owned enterprises; real estate; and private placements into listed and OTC-traded companies. More information is available at www.vinacapital.com/vnl.