Indochina Capital Vietnam Holdings Becomes a Strategic Investor In International Transportation And Trading Joint Stock Company, A Leading Private Vietnamese Shipping Company

Indochina Capital Vietnam Holdings Limited ("ICV")

(LSE:ICV), a Vietnam focused investment fund listed on the London Stock

Exchange main market under symbol ICV, is proud to announce a strategic

growth capital investment in the International Transportation and

Trading Joint Stock Company ("ITC")

a leading private Vietnamese shipping company based in Ho Chi Minh City.
ICV has acquired a minority equity position in ITC for US$25 million and

has become one of the Company´s first

institutional investors together with Sacombank Securities who invested

in a parallel transaction. ITC is a private and closely held company

with intentions to list on the HCM City Stock Exchange in early 2010.
ITC is growing its business through the expansion of its fleet which

currently is comprised of five dry bulk ships having a total capacity of

175,000 DWT that primarily services the construction materials industry.

Furthermore, ITC is engaged in the development, ownership, and operation

of two major container ports near Ho Chi Minh City.
Tung Kim Nguyen, the investment manager´s

Co-CIO, asserts, "This growth capital

investment in ITC represents one of our strategies of investing in high

quality prelisted businesses with strong growth tied to domestic demand

in Vietnam. In this case, the investment in ITC is linked to the growth

in demand for construction materials that will continue to escalate as

Vietnam´s real estate development boom gains

pace. Some of the key development areas which will drive demand include

large scale urban infrastructure, residential, commercial, retail, and

industrial zones."
About ICV
Indochina Capital Vietnam Holdings Limited is a Vietnam focused

closed-end investment fund listed on the London Stock Exchange main

market. ICV provides institutional investors with access to a

diversified portfolio of Vietnam-based investments, including prelisted

equity, state-owned entity equity, listed equity, fixed income

short-term instruments, and other investments. The Fund´s investment

manager, Indochina Capital Advisors Limited, is a wholly-owned

subsidiary of Indochina Capital Corporation ("ICC").

ICC is one of Vietnam´s most established

foreign investment firms with a nine year institutional track-record in

Vietnam. Please visit our website at www.indochinacapital.com for more information.