Resignation of Director

Vietnam Opportunity Fund Limited
14 July 2006



Vietnam Opportunity Fund Limited ('VOF' or the 'Company')

14 July 2006

Resignation of Director

The Board of Directors (the 'Board') of VOF today announces that Mr. Robert
Knapp has resigned from the Board with immediate effect.

Robert had served as a Director of VOF since 25 July 2003, and the Board would
like to thank him for his past contributions to the success of the Company.
Robert will remain involved in the Company as a representative to the Company's
Advisory Board.

About the Vietnam Opportunity Fund Limited

Vietnam Opportunity Fund Limited is a closed-end fund listed on the AIM market
of the London Stock Exchange plc. The principal investment objective of VOF is
to achieve capital appreciation as well as regular income through its
investments. VinaCapital, the fund's investment manager, employs over 70
professionals and has offices in Ho Chi Minh City and Hanoi.

For further information, please contact Ms. Chi Nguyen, Investor Relations, at
[e-mail] or at (84 8) 821 9930.




                      This information is provided by RNS
            The company news service from the London Stock Exchange