First Day of Dealings

RNS Number:9257F
SGL Vietnam Development Limited
18 October 2007


18 October 2007

                        SGL Vietnam Development Limited

                            ("SGL" or the "Company")

                             First Day of Dealings

SGL Vietnam Development Limited, a company established to engage in property
investment and development primarily in Vietnam, is pleased to announce that the
Company's ordinary shares of US$1.00 each ("Shares") have been admitted today to
trading on AIM, a market of the London Stock Exchange plc. The Company's trading
symbol is "SGLV".

10,766,670 new Shares have been allocated to institutional and other investors
at a price of US$3.00 per share (the "Placing Price"), raising approximately
US$32.3m for the Company before expenses. Following admission to trading on AIM,
the Company will have a total of 10,766,770 Shares in issue capitalising the
Company at approximately $32.3 million at the Placing Price.

The Company's nominated adviser and broker is Collins Stewart Europe Limited and
its investment manager is SGL Capital Investment Management Limited ("SGL
Capital").

SGL was incorporated in January 2007 with the investment objective of providing
shareholders with an attractive overall total return achieved primarily through
capital appreciation. The Company will primarily invest in Vietnamese
residential, office, retail, leisure and hospitality real estate projects in
conjunction with local partners.

It has already entered into five memoranda of understanding ("MOUs") with
respect to potential development projects including three in Hanoi and Ho Chi
Minh City, Vietnam's two largest cities. The Directors intend to focus on two
smaller projects immediately, but will consider other opportunities that are
available, through co-investment joint venture arrangements. The Company has
invited the IPO investors to join as joint venture parties in the Company's real
estate projects. Any such arrangement will be agreed on a project by project
basis, but will be on no more favourable terms than the Company itself invests.

Commenting on the admission to AIM, Susan Sim, Director of the Company and Chief
Executive Officer of SGL Capital, said: "We are delighted to have the initial
support from such distinguished investors. We intend to commence two projects
immediately and look forward to delivering shareholder value to current and
potential investors."


Enquiries:

SGL
Susan Sim                                      [phone]

Collins Stewart
Adrian Hadden, Stewart Wallace                 [phone]

Corfin Communications
William Cullum, Harry Chathli                  [phone]

Background

Vietnam*, with a population of over 85 million, is the second fastest growing
economy in Asia, behind only China, with a GDP growth rate of approximately 8.2%
in 2006 and with GDP per capita, measured in 1994 prices, increasing by over 43%
from 2000 to 2006.

*Asian Development Bank www.adb.org

Vietnam's sound fundamentals have established a sustained track record of
economic growth in excess of 7% over the last 5 years. Following Vietnam's
recent accession to the World Trade Organisation, the Asian Development Bank
expects this robust economic growth to continue and has forecast GDP growth of
8% in 2007 and 2008. Property consultant CBRE VN believes that the expansion of
development activity in Vietnam is being driven by the strongly performing
economy, a growing population and a government eager to move to a free market.

SGL has developed strong relations in Vietnam itself and has relevant real
estate and Vietnam experience. It has significant local knowledge through its
advisors. For example, the Company has appointed The Construction Joint Stock
Company No. 1 ("COFICO" or the "Development Adviser"), a state-controlled
enterprise and one of the largest construction companies in southern Vietnam, as
its development adviser to provide assistance and advisory services on property
development opportunities including research, consultancy and project
management.

SGL Capital the Company's investment manager, is led by Mr. Ching Wah ("George")
Goh, (Chairman) Mr. Kok Cheong ("Larry") Chua, (Deputy Chairman) and Ms. Susan
Sim, (Chief Executive Officer). They have extensive experience in the
international real estate sector in a variety of countries including Vietnam,
Singapore, China, Indonesia and the United Kingdom. Relevant property experience
includes Binh Duong (180,000 sq. m. retail/office/residential development in
Vietnam), Westlake Hotel (the first 5 star hotel in Hanoi), London Point West
(47,000 sq. m. residential/commercial development in South Kensington, London),
the Suria KLCC Mall in the Petronas Towers (Malaysia) and other significant
properties.

SGL Capital will manage the Company's property portfolio, source and recommend
new investment opportunities, provide project management and exit strategies.

The Company is also supported by an Advisory Panel which will include Mr. Marc
Townsend, the Managing Director of CB Richard Ellis (Vietnam) Ltd., one of the
key integrated real estate service providers in Vietnam, and Professor Cao Cu
Boi, who has extensive Vietnamese experience from his previous involvement in
various state and private sector initiatives.



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

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