Holding(s) in Company

+---+
|   |
+---+

+--------------------------------------------------+
| TR-1: Notifications of Major Interests in Shares |
+--------------------------------------------------+

|                                                |                             |
|                                                |Africa Opportunity Fund      |
|1. Identity of the issuer or the underlying     |Limited                      |
|issuer of existing shares to which voting rights|                             |
|are attached:                                   |                             |
+------------------------------------------------+-----------------------------+
|                                                                              |
|2. Reason for notification(yes/no)                                            |
+-----------------------------------------------------------------------+------+
|                                                                       |YES   |
|An acquisition or disposal of voting rights                            |      |
+-----------------------------------------------------------------------+------+
|                                                                       |      |
|An acquisition or disposal of financial instruments which may result in|      |
|the acquisition of shares already issued to which voting rights are    |      |
|attached                                                               |      |
+-----------------------------------------------------------------------+------+
|                                                                       |      |
|An event changing the breakdown of voting rights                       |      |
+-----------------------------------------------------------------------+------+
|                                                                       |      |
|Other (please specify):______________                                  |      |
+-----------------------------------+-----------------------------------+------+
|                                   |Advance Frontier Markets Fund Ltd         |
|3. Full name of person(s) subject  |                                          |
|to notification obligation:        |                                          |
+-----------------------------------+------------------------------------------+
|                                   |NORTRUST NOMINEES LIMITED a/c FRO01       |
|4. Full name of shareholder(s)(if  |                                          |
|different from 3):                 |                                          |
+-----------------------------------+------------------------------------------+
|                                   |            10 March 2010                 |
|5. Date of transaction(and date on |                                          |
|which the threshold is crossed or  |                                          |
|reached if different):             |                                          |
+-----------------------------------+------------------------------------------+
|                                   |            12 March 2010                 |
|6. Date on which issuer notified:  |                                          |
+-----------------------------------+------------------------------------------+
|                                   |                 >20%                     |
|7. Threshold(s) that is/are crossed|                                          |
|or reached:                        |                                          |
+-----------------------------------+------------------------------------------+



















+------------------------------------------------------------------------------+
|8: Notified Details                                                           |
+------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                           |
|                                                                              |
+-------------+-------------------+--------------------------------------------+
|Class/type of|Situation previous |Resulting situation after the triggering    |
|shares       |to the triggering  |transaction                                 |
|If possible  |transaction        |                                            |
|use ISIN code+---------+---------+---------+------------------+---------------+
|             |Number of|Number of|Number of|Number of voting  |Percentage of  |
|             |shares   |voting   |shares   |rights            |voting rights  |
|             |         |rights   |         +---------+--------+------+--------+
|             |         |         |         |         |        |      |        |
|             |         |         |         |Direct   |Indirect|Direct|Indirect|
+-------------+---------+---------+---------+---------+--------+------+--------+
|KYG012921048 |         |         |         |         |        |      |        |
|             |7,868,212|7,868,212|8,584,212|8,584,212|n/a     |20.14%|n/a     |
+-------------+---------+---------+---------+---------+--------+------+--------+

+------------------------------------------------------------------------------+
|B: Financial Instruments                                                      |
|                                                                              |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
|                                                                              |
+-------------+-------------+--------------+----------------------+------------+
|Type of      |Expiration   |Exercise/     |No. of voting rights  |Percentage  |
|financial    |date         |conversion    |that may be acquired  |of voting   |
|instrument   |             |period/date   |(if the instrument    |rights      |
|             |             |              |exercised/converted)  |            |
+-------------+-------------+--------------+----------------------+------------+
|             |             |              |                      |            |
|             |             |              |                      |            |
+-------------+-------------+--------------+----------------------+------------+


+-------------------------------------------------------+
| Total (A+B)                                           |
|                                                       |
+-------------------------+-----------------------------+
| Number of voting rights | Percentage of voting rights |
+-------------------------+-----------------------------+
|                         |                             |
| 8,584,212               | 20.14%                      |
+-------------------------+-----------------------------+


+------------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and /or   |
|the financial instruments are effectively held, if applicable:                |
+------------------------------------------------------------------------------+
|n/a                                                                           |
+------------------------------------------------------------------------------+

+------------------------------------------------------------------------+
| Proxy Voting:                                                          |
|                                                                        |
+------------------------------------------------------------------+-----+
| 10. Name of proxy holder:                                        | n/a |
|                                                                  |     |
+------------------------------------------------------------------+-----+
| 11. Number of voting rights proxy holder will cease to hold:     | n/a |
|                                                                  |     |
+------------------------------------------------------------------+-----+
| 12. Date on which proxy holder will cease to hold voting rights: | n/a |
|                                                                  |     |
+------------------------------------------------------------------+-----+

+---------------------------+--------------------------------------------------+
|13. Additional information:|Advance Emerging Capital Limited is investment    |
|                           |manager to Advance Frontier Markets Fund Limited  |
|                           |                                                  |
+---------------------------+--------------------------------------------------+
|14 Contact name:           |Anthony Lee (UK Administration Agent)             |
|                           |                                                  |
+---------------------------+--------------------------------------------------+
|15. Contact telephone name:|020 7490 4355                                     |
|                           |                                                  |
+---------------------------+--------------------------------------------------+



[HUG#1393684]