Anpha Capital announces completion of initial closing of VEH and VPH

Ho Chi Minh City, Vietnam, October 22, 2007 - Anpha Capital, a fund management company based in Ho Chi Minh City, Vietnam announced today it has completed the initial closing of its two debut funds: Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH).

"We are extremely pleased with the fantastic results of the recent initial close. Both VEH and VPH were over subscribed over our target. This shows strong investors’ confidence in Vietnam’s investment potentials and Anpha Capital’s ability to deliver results”, says Louis Nguyen, Managing Partner, “We will proceed with investments in our pipeline, but also as important is for us to complete the general closing round by November 30th, 2007”.

VEH will invest in equitizations of state-owned-enterprises (SOEs) over-the-counter securities (OTC), and private equity and listed shares.  “We believe our ability to deliver quality deal flow in this case is superior as this is one of the few funds in Vietnam with a domestic license and managed by a investment team with extensive local and international track records” says Louis Nguyen. A local investment license which allows foreign capital managed by Anpha Capital to be considered as local capital with no foreign restrictions and limitations and is a major competitive advantage of Anpha Capital over foreign funds in Vietnam.
 
VPH will invest in real estate including retail, office, hotel, residential, infrastructure, and industrial parks.  “Vietnam’s property market is booming, following the footsteps of other Asian markets with tremendous opportunities across sectors”, says Desmond Lin, Managing Director of VPH, “Volume and price of supplies have increased exponentially in the last three years and still cannot meet forecasted demand.  Our investor base from Asia and Europe continue to be highly optimistic on the Vietnam’s property market and we are in the process of selecting strategic partners to assist us in the construction and development areas”.

The Anpha Capital investment team will be traveling on a worldwide trip to meet with various investors during the month of November 2007 to complete raising capital for the general closing round due November 30th, 2007. If you would like to meet with the investment team, please contact Ms. Huong Truong at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

About Anpha Capital
Anpha Capital is a locally licensed investment fund management company which invests in broad and large opportunities in Vietnam. The company’s strategy is to achieve outstanding capital growth through investment in an actively managed and diversified portfolio of pre-IPO equitization opportunities of state owned enterprises (SOEs), over-the-counter securities (OTC), and private equity.  In addition, the company will focus on public equity as market condition becomes favorable. Anpha Capital manages two investment funds: Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), two Cayman Island exempted companies.
Anpha Capital’s investment team comprised of over 20 investment professionals from leading investment funds in Vietnam, senior local executives, and former government officials who all have long term interest in the country.  Key differentiations for Anpha Capital includes: 1) A local investment license which allows the Company to invest with out foreign ownership restrictions and limitations; 2) Access to proprietary deal flow; 3) A locally immersed team with foreign and domestic track records. For more information about the company and its executives, please visit our website at www.anphacapital.com

Contact:
Ms. Quynh Nguyen
Public Relations Manager
Anpha Capital
7 Vo Van Tan Street, District 3
Ho Chi Minh City, Vietnam
Tel: (84 8) 825 8130
Fax: (84 8) 825 8108
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www.anphacapital.com

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