Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, today announces its interim results for the six-month period ended 31 December 2008.

Financial summary:
• Total Adjusted NAV is US$224 million (£154 million*), representing an 18% increase in dollar terms and a 53%* uplift in sterling terms since admission

• Adjusted NAV per share is US$2.13 (147p*), representing a 24% drop in dollar terms and a 4.24%* uplift in sterling terms during the six-month period

• Property portfolio valued at US$258 million, down 21% for the six-month period ended 31 December 2008

Major loan secures One Central:
• Secured first bank loan facility of US$83 million with a consortium of international and Macanese banks, led by HSBC, for financing MPO's remaining consideration in One Central Residences

New acquisitions point the way:
• New investments during the period include:
  - "Zhuhai Logistics Centre", MPO's first acquisition in warehousing & logistics sector as well as its first investment in mainland China
  - US$3.8 million of smaller property assets

Development strength our position:
• Steady progress with the design and planning of MPO's development properties during the period

David Hinde, Chairman, said: "The second half of 2008 was clearly a testing time for MPO, with the ongoing turmoil in the international financial markets impacting on our portfolio's value. Nevertheless, during this six-month period, we further diversified our property portfolio, made steady progress on our development sites and recently successfully secured our first loan facility. At the same time, we kept a tight rein on our borrowing and a sharp watch on the health of our long-term cash flow. I am confident that we have the skills and expertise required to meet the challenges of the future and a portfolio of assets that will reward our shareholders over the long-term."

*Based on a Sterling/Dollar exchange rate of 1.45 as at 31 December 2008

Please visit www.mpofund.com to download the full interim report.