Interim Management Statement

RNS Number : 8693V

Schroder Oriental Income Fund Ltd

17 July 2009

SCHRODER ORIENTAL INCOME FUND LIMITED

Interim Management Statement for the Quarter ended 31 May 2009

Investment Objective

The Company's investment objective is to provide a total return for investors primarily through investments in equities and equity-related investments, of companies which are based in, or which derive a significant proportion of their revenues from, the Asia Pacific region and which offer attractive yields.

Company Statistics as at 31 May 2009

Gross Assets	£160.15 million
Net Asset Value per ordinary share	93.73p
Share price	91.75p
Discount	2.11%
Number of holdings	83
Net Effective Gearing	7.74%
Yield	5.50%

Percentage Cumulative Performance to 31 May 2009

Performance over	3 m	6 m	1yr
Share Price (Total Return)	42.5%	50.6%	(18.8)%
Net Asset Value (Total Return)	33.6%	43.6%	(19.9)%

All Performance Data Source: Fundamental Data.

Portfolio Information as at 31 May 2009

Ten Largest Holdings

Stock Name	Country	Percentage of NAV (%)
Hang Seng Bank	Hong Kong	3.95
Fortune Real Estate Investment Trust	Singapore	3.87
Taiwan Mobile	Taiwan	3.64
Jardine Matheson	Hong Kong	3.37
Suncorp-Metway	Australia	3.30
Ascendas Real Estate Investment Trust	Singapore	2.80
Orica	Australia	2.57
Suntec Real Estate Investment Trust	Singapore	2.56
Far EasTone Telecommunications	Taiwan	2.56
Niko Resources	Canada	2.31

Country Allocation
Country	Percentage of NAV (%)
Australia	20.03
Canada	2.31
China	8.49
Hong Kong	24.00
Indonesia	3.18
Korea	1.54
Malaysia	0.19
New Zealand	2.30
Philippines	4.57
Singapore	17.21
Taiwan	11.48
Thailand	4.70

Changes to Share Capital during the quarter ended 31 May 2009

	Issued Ordinary shares of 1p each
As at 1 March 2009	153,159,500
Shares issued during the period Shares bought back and cancelled during the period	Nil Nil
Shares remaining in issue as at 31 May 2009	153,159,500

Material Events or Transactions

Share Issue

Following the period end a total of 175,000 Ordinary shares of 1p were issued under the Company's Block Listing. As at the date of this statement the total number of shares in issue is 153,334,500.

Company Information as at 31 May 2009
Sedol Code	B0CRWN5
Sector	Equity Investment Instruments
Launch Date	July 2005
Financial Year End	31 August
Next Dividend Payment	December 2009
Last Ex Div Date	22 April 2009
AGM	December