MPO completes on prestigious Macau investment property
Tower Six, One Central Residences handed over ahead of schedule

Tower Six, One Central Residences

Macau Property Opportunities Fund Limited (MPO), managed by Sniper Capital Limited, today announces that it has taken delivery of all 59 units in Tower Six, One Central Residences, situated in Macau’s most prestigious mixed-use development.

The Company intends to lease out all units in Tower Six, which will be positioned as Macau’s premier luxury residence, catering to the growing demand for high quality, well-located executive accommodation. It is anticipated that the units will be available for lease by the end of 2009. The Company has already entered into discussions with a number of potential corporate tenants.

The apartments, which are already finished to a high standard, will be further enhanced by the Company to reflect the unique qualities and excellent positioning of the development.

Handover of the Company’s additional lakeview units located in other towers will be carried out progressively in the next few weeks and is expected to be completed by the end of September 2009. MPO intends to adopt an opportunistic strategy towards these units based on prevailing market conditions.

Loan Facility

The Company’s investment in One Central Residences has been financed by a US$82 million loan facility, secured with a consortium of international banks led by HSBC. Drawdown of the facility, which extends until mid-2012, has now occurred.

David Hinde, Chairman of MPO said:

“We are delighted to have taken delivery of our investment in this exceptional development which is destined to set new standards in Macau’s luxury residential sector – one of our key target segments.

“The strength of Macau’s unique long-term growth drivers, combined with our active asset management strategy for this project, leave us well-positioned to maximise the value of this unparalleled investment.”