Re: Administration Fees

RNS Number:1260W
Beta Vietnam Fund Ld
20 May 2002

                              COMPANY ANNOUNCEMENT


FOR IMMEDIATE RELEASE                                           20th May, 2002

                           BETA VIET NAM FUND LIMITED

                       RE: Change of Administration Fees

The Directors of Beta Viet Nam Fund Limited (the "Company") announce that under
the administration agreement with Bachmann Asset Management dated 1 May 2002,
the administration fees payable by the Company are as follows:



A monthly fee of an amount equivalent to 0.12 per cent per annum of the net
asset value of the Fund subject to a minimum of US$38,000 per annum and shall be
payable in respect of the period commencing on the Effective Date down to and
including the date of termination of the administration agreement.



An annual fee of US$5,000 for the provision of a share/warrant transaction
registration facility together with a transaction fee of US$17.50 per share/
warrant transaction payable monthly in arrears.


Enquiries:

NCB Stockbrokers Limited                                  Joanne McEnteggart
                                                          + 353 1 611 5907



Bachmann Asset Management Limited                         Marie Palmer
                                                          [phone]



This announcement has been issued through the Companies Announcement Service of
                          the Irish Stock Exchange.



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