Investment Manager

VietNam Holding Limited
15 April 2008

                            VietNam Holding Limited

                               Investment Manager


The Board of VietNam Holding Limited (AIM: VNH) (the 'Company') has been
notified by Juerg Vontobel, a principal and founder of Vietnam Holding Asset
Management Limited (the 'Manager'), the investment manager to the Company, that
he has been accused by the Swiss Federal Criminal Court on charges of money
laundering relating to his alleged conduct between February 2001 and June 2002
as the Managing Director of the Zurich branch of Discount Bank & Trust Cie
('DBTC') which was acquired by Union Bancaire Privee in June 2002. The charges
relate to the role of several senior DBTC bankers, including Juerg Vontobel, and
the conduct of several bank accounts, opened prior to Juerg Vontobel joining
DBTC, and which accounts have since been established by the Brazilian Regional
Federal Court of the 2nd Region of Rio de Janeiro as being operated by persons
convicted of criminal offences including money laundering.

The Directors can confirm that they are confident that the operations of the
Company and the Manager will continue uninterrupted.

The Directors are considering the options available to the Company both in
respect of its contractual arrangements with the Manager and for the future
management of the portfolio should Mr Vontobel be convicted as a result of the
criminal proceeding.



VietNam Holding Limited

John Hoey (Director)

Phone: [phone]



Grant Thornton Corporate Finance (Nominated Adviser)

Philip Secrett

Phone: [phone]



JPMorgan Cazenove Limited


Angus Gordon Lennox

Phone: [phone]





About VietNam Holding Limited:



VIETNAM HOLDING LIMITED (AIM: VNH) is an investment company incorporated in the
Cayman Islands and whose shares are admitted to trading on the AIM Market of the
London Stock Exchange.  VNH's investment objective is to achieve long-term
capital appreciation by investing in a diversified portfolio of companies either
in Vietnam or with a significant portion of their assets or operations in
Vietnam. The goal is to invest in companies that have high growth potential at
an attractive valuation.  VNH has a large base of Swiss investors.  For more
information, please visit VNH's website at www.vietnamholding.com.

15 April 2008


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