Quarterly Investor Update

Aseana Properties Limited
28 March 2008

This announcement replaces the Quarterly Investor Update released at 8:00am this
morning (RNS: 0002R). The web link has been amended accordingly.



Date:                   28 March 2008

On behalf of:           Aseana Properties Limited ('Aseana' or 'the Company')

Immediate Release



Aseana Properties Limited

•         Quarterly Investor Update


Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in
Malaysia and Vietnam, announces that it has today issued a Quarterly Investor
Update for the period ended 31 December 2007.  Electronic copies of the report
can be obtained on its website at the following link:

http://www.aseanaproperties.com/ir.htm



Aseana Properties is listed on the Main List of the London Stock Exchange.



Enquiries:


Redleaf Communications                                  Tel: [phone]
Samantha Robbins / Adam Leviton                         Email: [e-mail]

Fairfax I.S. PLC                                        Tel: [phone]
James King



Notes to Editors



•         Ireka Development Management, the Manager, is a wholly-owned
subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia
since 1993, which has 40 years of experience in construction and property
development.



•         The Company will typically invest in development projects at the
pre-construction stage, with a primary focus on location within the major cities
of Malaysia and Vietnam.



•         Investment will be made in projects where it is believed there will
be a minimum 30% annualised return on equity ('ROE') on investments in Vietnam
and a minimum 20% ROE on investments in Malaysia.



•         No one underlying single asset will account for more than 30% of the
gross assets of the Company at the time of investment.



•         It is the intention that the Net Proceeds of the Placing will be
fully invested in accordance with the investment policy within 12 months of
Admission.



•         The Directors believe the following factors should provide
sustainable growth in the real estate sectors of both Malaysia and Vietnam:

          o        An increasing standard of living and urbanisation driven by a
                   burgeoning young and middle class population

          o        Clear Government role in encouraging participation of private 
                   sectors in real estate development, as well as encouraging 
                   and promoting land and property ownership

          o        Improving availability of mortgages to encourage property 
                   ownership

          o        Favoured Foreign Direct Investment (FDI) destinations driving 
                   demand for commercial and industrial properties




                      This information is provided by RNS
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