Investee Company Update

RNS Number:2375N
London Asia Chinese Private Equity
04 February 2008

4 February 2008


          London Asia Chinese Private Equity Fund Limited  ("LACPEF")

                           Investee Companies Updates



LACPEF, the AIM traded, China focused investment fund, is delighted to announce
updates from its two Singapore listed water investee companies, United
Envirotech Ltd ("UE" or the "Company") and Asia Water Technology Ltd ("Asia
Water" or the "Group").


United Envirotech - eight new projects; third quarter results


The Company released a strong set of the third quarter results for the period
ended 31 December 2007, with growth across all sectors of the business. During
the three month period, revenue was up 109%, compared to the same period in
2006, to £4.9 million, with profit before tax increasing to £0.9 million (2006:
loss).


UE has secured a £7.0 million engineering contract to modify, upgrade and expand
on the existing wastewater treatment plant at Taixing Chemical Industrial Park
at Taixing City, Jiangsu Province, China.  The first phase of the project
involves upgrading and converting the 20,000 m3/day wastewater treatment plant
to UE's advanced Membrane Bioreactor (MBR) system. Following successful
completion of the first phase, UE will construct a 40,000 m3/day wastewater
treatment plant using MBR technology.



The Company was awarded a £4.2 million Build-Operate-Transfer ("BOT") contract
to build a 50,000 m3/day membrane-based wastewater treatment and recycling
facility from Mianyang Municipal Government in Sichuan Province, China. The
project has a concessionary period of 30 years and will be undertaken by a
project company in which UE owns 60%. Mianyang city is one of three cities
granted the prestigious status of a "water conservation area". It was selected
by the Chinese Central Government to serve as a model to demonstrate
self-sustained water use through effective water re-use. Mianyang is well
recognized as a high-tech research and development base for China. The city
hosts one of the research bases for nuclear science and rocket science.


UE's advanced membrane-based water treatment system has been selected by China
Petrochemical Corporation (Sinopec) Group for five of its six demonstration
plants. The projects were awarded independently by Sinopec's Maoming, Wuhan,
Xian, Zhijizhuang and Guangzhou branches though a series of bidding and
evaluation processes where UE was selected over both local and international
water treatment companies.


The Company has also secured an industrial wastewater treatment project in
Singapore from Semcorp Industries Ltd ("SUT") using MBR technology. UE has
successfully completed two water-recycling projects, utilizing its advanced
membrane technology, for SUT in the past two years.


Asia Water - Acquisition


Asia Water has acquired for £0.5 million in cash the 20% stake in Taizhou Kaidi
Waste Water Treatment Co Ltd ("Taizhou"), a wastewater treatment services
provider.  Taizhou is located in Linghai City, Zhejiang Province, China and was
set up to undertake a BOT wastewater treatment project for a period of 20 years.
Taizhou will build, operate and transfer a water treatment plant with an
estimated treatment capacity of 50,000 tonnes of industrial wastewater per day.
Once operational, Taizhou will be treating industrial wastewater generated by
the Zhejiang Pharmaceutical Park located within Linghai City.


For further information please visit www.lacpefund.com, or contact:


John West/Andrew Dunn                  Cecilia Wong                               Hugh Field

Tavistock Communications               London Asia Ltd.                           Collins Stewart Europe Ltd

Tel: [phone]                     Tel: [phone]                        Tel: [phone]

                                       [e-mail]


About Asia Water Technology Ltd.

Singapore stock market listed AWT provides total engineering solutions for water
purification and wastewater treatment systems. Its business is primarily
conducted through its subsidiary in China, which owns its own patented core
technologies and works closely with leading technology partners in the
international and local water treatment arena. For more information on the
Group, please visit: www.asiawatertech.com.



About United Envirotech Ltd

Singapore main board listed United Envirotech Ltd specializes in water treatment
and reclamation using advanced membrane technologies and provides environmental
engineering solutions to a wide range of customers in the chemical,
petrochemical, pharmaceutical, and wastewater treatment industries. For more
information on the Company, please visit: www.unitedenvirotech.com.


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