Result of EGM

RNS Number:6309E
Guangdong Development Fund Ld
15 June 2006


Guangdong Development Fund Limited

15 June 2006

                       GUANGDONG DEVELOPMENT FUND LIMITED

                    RESULT OF EXTRAORDINARY GENERAL MEETING
                                      AND
                              CHANGE OF DIRECTORS

Guangdong Development Fund Limited ("GDF" or "the Company") is pleased to
announce today that the following resolutions, which were proposed at the
Extraordinary General Meeting of the Company held this morning, were duly
passed:

* the disposal of interests in GD Decorative, Guangdong MDF, Honour
  Million & Guangzhou Malting;
* the change of Manager and appointment of Investment Manager; and
* the change of publication of quarterly NAV.

Following the passing of the above resolutions, Mr. Chung Kuohsien David and 
Ms.Li Yick Yee Angie have resigned as directors of the Company. Additionally, 
Mr. Chan Kin has stood down as Chairman and remains on the board as a 
non-executive director.

Two copies of the ordinary resolutions passed at the EGM have been submitted to
the UK Listing Authority, and will shortly be available for inspection at the 
UK Listing Authority's Document Viewing Facility, which is situated at:

Financial Services Authority,
25 The North Colonnade,
Canary Wharf,
London E14 5HS
Telephone Number 020 7676 1000

Enquiries:

RSM Robson Corporate Finance
Neil Crawford              [phone]
Samantha Harrison          [phone]





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