RNS Number:3314X
London Asia Chinese Private Equity
29 May 2007


29 May 2007

                  London Asia Chinese Private Equity Fund Limited
                            ("LACPEF" or "the Fund")

                                Sale of Investment

                                     Award Win

LACPEF, the China focused investment fund, has sold its entire holding in
Singapore listed Devotion Energy Group Ltd for net proceeds of #3.1 million,
following the Funds investment of #1.4 million in November last year.  The
profit of approximately #1.7 million represents a return of over 120% in less
than 6 months.

The Fund is delighted to announce that it won the 2007 Achievement Award for
'Best Private Equity Fund Launch' from leading Asian asset management industry
publication Asian Investor.

Simon Littlewood, Executive Director of the Fund commented: "This exit has
generated a very healthy return for the Fund.  Whilst we continue to maintain
our belief in Devotion's business model and management, the recent strong rise
in Devotion's share price and the large number of new opportunities the Fund is
currently working on, led to the decision to dispose of our entire holding in
Devotion.

"We are delighted to have won this award, given the stiff competition from the
large number of new Asian private equity funds launched in the last year."


For further information please visit www.londonasiafunds.com or contact:

John West/Andrew Dunn                         Simon Littlewood                       Hugh Field

Tavistock Communications                      London Asia Capital                    Collins Stewart Europe Limited
Tel: 020 7920 3150                            Tel: 020 7355 7928                     Tel: 020 7523 8000



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