Annual Report and Accounts

Vietnam Opportunity Fund Limited
21 December 2006

21 December 2006

Vietnam Opportunity Fund Limited (the 'Company')

Annual Report

The Vietnam Opportunity Fund Limited Annual Report for the year ended 30 June
2006 has today been issued by VinaCapital Investment Management Ltd, the
investment manager of the Company. Electronic copies of the report have been
emailed to shareholders and can also be downloaded from the VinaCapital
Investment Management Limited website at:



http://www.vinacapital.com/upload/files/Vietnam.Opportunity.Fund.Annual.Report.30.June.2006.pdf


using the password 'VinaCapital'.



Copies of the report will also be available, free of charge from the offices of
Grant Thornton Corporate Finance, Grant Thornton House, Melton Street, Euston
Square, London NW1 2EP or, the offices of VinaCapital Investment Management Ltd,
17/F, Sun - Wah Tower, Ho Chi Minh City, Vietnam, for a period of 30 days from
the date of this announcement.




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