Acquisition

2 November 2010

                        Africa Opportunity Fund Limited
                                  Acquisition


Africa  Opportunity Fund Limited ("AOF" or  the "Company") announces that in the
past  12 months the Company  has acquired a  small minority interest in Shoprite
Holdings Limited for a consideration of approximately $3.5m.

Shoprite  Holdings Limited is the largest  South African food retailer operating
over  1,100 stores in 16 countries across  Africa, while serving over 14 million
shoppers  annually. In the  year to 30 June  2010 Shoprite Holdings Limited made
profits  before tax  of ZAR  3,399,088,000. Full details  of this company can be
found atwww.shopriteholdings.co.za.


For further information please contact:

Africa Opportunity Fund Limited
Francis Daniels                        Tel: [phone]


Grant Thornton Corporate Finance (Nominated Adviser)
Philip Secrett                                Tel: [phone]

For more information about AOF, see www.africaopportunityfund.com



[HUG#1458182]








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Source: Africa Opportunity Fund Ltd via Thomson Reuters ONE