Net Asset Value(s)

RNS Number:0011P
SGL Vietnam Development Limited
29 February 2008

29 February 2008


SGL Vietnam Development Limited (the "Company")



Unaudited Net Asset Value ("NAV") as at 31 December 2007 and 
Notice of Interim Results


The Company (AIM:SGLV) announces that its unaudited NAV per issued share as at
31 December 2007 was US$2.64 per share.


The Company was admitted to trading on AIM, a market of the London Stock
Exchange, on 18 October 2007 at an issued share price of US$3.00 per share. The
decrease in NAV of $0.36 (12%) reflects the expenses the Company incurred in
relation to its IPO, as well as other costs incurred in establishing the
Company's current pipeline of investment opportunities.


The Company announced its first investment on 16 January 2008 and the Directors
expect that the Company will close an additional project in the near term.


Property Market Overview


The Directors believe that 2008 has the potential to be a very positive year for
the property market in Vietnam, on the back of the government real estate
reforms in 2006 and certain ownership concessions improving demand.  In
addition, local economic growth has improved house affordability and overseas
investment is increasing, as ongoing efforts are being made to improve the
transparency in the property sector.


The residential property market performed strongly in the fourth quarter of
2007, with activity driven largely by the launch of several key residential
projects both in Hanoi and Ho Chi Minh City ("HCMC") with very strong
pre-development/off-plan sales to the public and a strong secondary market, with
re-sales reported to have taken place at premia of 20 to 100 % to the primary
sale price.


The Company's manager, SGL Capital Investment Management Limited, believes that
there are a wide range of investment opportunities for the Company in the year
to come as housing supply is still limited while the demand remains strong for
well priced developments, both in the residential and in the retail sectors.


Notice of Interim Results

The Company will announce its Interim Results for the 6 month period ended 31
December 2007 on 19 March 2008.



Enquiries:

SGL Vietnam Development Limited
Susan Sim                                           [phone]


Collins Stewart
Adrian Hadden, Stewart Wallace                      [phone]


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