Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, today announces US$43.1 million of further property investments, comprising:

• a well-positioned 10,500-square foot mixed-use redevelopment project on Macau Peninsula with a total investment value of US$26.6 million; and

• a number of attractively priced and strategically located individual properties for an aggregate consideration of US$16.5 million Since Admission to AIM, the Company has committed US$191 million or approximately 101% of its total equity raised and continues to negotiate on a further eight sites totalling approximately US$450 million in combined acquisition value.

Mixed-Use Redevelopment

Key Points:
• The 10,500-square foot freehold site is located close to Macau’s main historic square and tourist epicentre on Macau Peninsula.

• MPO is investing a total of US$26.6 million in the project, comprising an acquisition price of US$15.85 million and an expected redevelopment cost of US$10.75 million.

• The property is a key pipeline site presented to investors during the Company’s IPO road show.

• The Company is planning a mixed-use project for the site incorporating prime retail and entertainment space targeted towards the local retail and tourism market.

• The acquisition is being funded entirely out of the Company's existing cash resources, but the Company is seeking debt financing for the redevelopment portion of the project.

The property is adjacent to and clearly visible from Senado Square, one of the top tourist destinations on Macau Peninsula. The square forms part of Macau’s World Heritage district which is rich in architectural beauty and significance. The constant and ever-increasing pedestrian traffic in the area has created a sought after location for shopping outlets, driving retail property prices and rentals to amongst the highest levels in Macau. It is the current intention of the Company to redevelop the property into a six storey building consisting of prime retail and entertainment space.

The acquisition is subject to delivery of vacant possession by the vendors and to some rights of usage by a third party to the basement area of the building. The Company is progressing discussions with the third party with the intention of coming to mutual agreement during the planning process. Both these factors have been fully reflected in the final acquisition price of the property.

Other Investments
The Company has also acquired, in a series of separate purchases, a number of smaller individual properties in various strategic locations across Macau, within its defined market segments, for an aggregate consideration of US$16.5 million.

These properties have been purchased by MPO as part of an ongoing scheme of acquiring well-located and attractively priced property assets, which the Company believes offer significant capital appreciation as investment properties in their own right or through consolidation, refurbishment or redevelopment. The Company will continue to update shareholders on its progress as it acquires further properties under this scheme.

David Hinde, Chairman of MPO said: “We are very pleased to have secured this strategic site. The acquisition follows a long and complicated negotiation process and clearly illustrates the Manager’s expertise and commitment to the Company’s stated strategy of acquiring well-positioned assets within target market segments.

Furthermore, the Company’s niche strategy of purchasing smaller individual properties on an opportunistic basis, demonstrates the Manager’s versatile approach to sourcing investments which maximise potential returns for
shareholders.”