Indochina Capital Vietnam Holdings Announces Transactions in its Own Shares

Indochina Capital Vietnam Holdings Limited (the "Fund") (LSE:VHG),
during the period January 1, 2008 through January 31, 2008, has
repurchased 330,560 ordinary shares at an average market price of
$8.10 per share. These repurchased shares are being held as treasury
shares.

At its discretion, the Fund will continue to actively repurchase
its shares in accordance with UKLA´s Listing Rules 12.4.1 and 12.4.2
governing the purchase of own shares.

As of January 31, 2008, the Fund was holding 551,812 ordinary
shares in treasury. After deducting these shares held in treasury, the
Fund´s total ordinary shares currently outstanding are 46,514,859.

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About Indochina Capital Vietnam Holdings Limited (the Fund)

Indochina Capital Vietnam Holdings Limited ("ICV" or the "Fund")
is a closed-end investment fund that invests in Vietnamese securities.
The Fund is listed on the London Stock Exchange main market under
symbol ICV. The Bloomberg lookup is ICV LN and Reuters code is IVCH.L.

The Fund provides international and institutional investors with
access to a diversified portfolio of Vietnam investments with a focus
on pre-listed investments such as private equity and state-owned
entity privatization equity. ICV also makes selected listed, OTC,
foreign-direct, and fixed income investments.

About Indochina Capital (Parent to the Investment Manager)

Indochina Capital is one of Vietnam´s leading financial services
firms with diversified fund management and financial advisory firms.
With US$1.8 billion in funds under management and projects under
development, we are one of Vietnam´s largest foreign real estate
investors and most active equity investors. In addition, Indochina
Capital has a strategic interest in Mekong Securities, a Vietnamese
broker-dealer with a particular focus on research.

We manage two private real estate funds under the brand Indochina
Land Holdings and a flagship equities fund Indochina Capital Vietnam
Holdings which listed on the London Stock Exchange main market in
March 2007 as the single largest Vietnam IPO and listing to-date. We
are expanding our funds under management in real estate and equities
in 2008 and branching into infrastructure fund management and
development.

For more information about Indochina Capital, please visit:
www.indochinacapital.com.

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