VinaCapital Vietnam Opportunity Fund Ltd - VOF invests in Orient Commercial Bank

VinaCapital Vietnam Opportunity Fund Limited ("the Company" or "VOF")
LEI No.: 2138007UD8FBBVAX9469

VOF invests in Orient Commercial Bank, one of Vietnam's fastest-growing retail banks

Ho Chi Minh City, 19 October 2017 - VinaCapital Vietnam Opportunity Fund ("VOF"), (LSE: VOF), the flagship fund of VinaCapital, today announced that it has invested in Orient Commercial Bank (OCB), a mid-tier retail bank in Vietnam, via a privately negotiated deal. VOF's investment, which recently received regulatory approval, is approximately USD11 million, for an interest of less than 5%.

Andy Ho, Managing Director of VOF, said, "This investment is a rare opportunity to own a meaningful stake in a bank that has high lending and earnings growth, and a strong management team with a clear strategy for expansion. Over the past five years, OCB has been restructuring its business, and is now well-positioned to implement its growth strategy. In addition to negotiating an attractive price, we were able to obtain certain minority protections and performance commitments, which made this transaction all the more attractive."

About OCB

OCB was established in 1996, and currently ranks 17^th out of 34 banks in terms of total assets. The bank has been rapidly expanding over the past four years, with CAGR of 23%, and expects earnings growth of approximately 100% and 30% in 2017 and 2018, respectively. The bank expects 2017 profit after taxes to be USD34.3 million. OCB currently has 122 branches and offices nationwide, and aspires to become a leading retail bank targeting affluent individual customers as well as small and medium-sized enterprises. To help drive growth, OCB plans to diversify the range of products it offers to targeted customer segments.

The bank expects to list on the Ho Chi Minh Stock Exchange before the end of 2019.

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About VinaCapital

Founded in 2003, VinaCapital is a leading investment and asset management firm headquartered in Vietnam, with a diversified portfolio of USD1.8 billion in assets under management. The firm has two closed-ended funds that trade on the London Stock Exchange: the VinaCapital Vietnam Opportunity Fund Limited, which trades on the Main Market, and VinaLand Limited which trades on the AIM. VinaCapital also manages the Forum One - VCG Partners Vietnam Fund, one of Vietnam's largest open-ended UCITS-compliant funds, the Vietnam Equity Special Access Fund, numerous segregated accounts, and two domestic funds. VinaCapital also has joint ventures with Draper Fisher Jurvetson in venture capital, and Warburg Pincus in hospitality and lodging. VinaCapital's expertise spans a full range of asset classes including capital markets, private equity, real estate, venture capital, and fixed income.

VOF is managed by VinaCapital Fund Management Limited, an entity managed and regulated in Vietnam by the State Securities Commission of Vietnam, a member of the International Organization of Securities Commissions.

For more information about VinaCapital, please visit www.vinacapital.com .

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