RNS Number:3703A
Beta Viet Nam Fund Limited
5 November 1999

                     BETA VIET NAM FUND LIMITED ("BVNF")                      
                                                                             
                                                                             
           Announcement of results of Extraordinary General Meeting           
                           and Warrantholder Meeting                          
                 

The Board of BVNF is pleased to announce the results of the Extraordinary
General Meeting ("EGM") and the Warrantholder Meeting held on 5 November 1999
to return US$3.00 per share to shareholders and to reduce the subscription
price per warrant from US$10.00 to US$7.00. 

At the EGM, shareholders voted in favour of the resolution to return US$3.00.
This special resolution required approval by 75% of those shares voted. In the
event, approval was received from 78.8% of those shares voted.  
 
At the Warrantholder Meeting, warrantholders also voted in favour of the
resolution to reduce the subscription price per warrant from US$10.00 to
US$7.00. This extraordinary resolution also required approval by 75% of those
warrants voted.  Approval was received from 81.8% of those warrants voted.

The results were as follows:

EGM                                For         Against        Percentage
                                                              in favour

Special Resolution             4,303,709      1,152,851         78.8
 

Warrantholder Meeting              For         Against        Percentage
                                                              in favour

Extraordinary Resolution         568,747        126,023         81.8


Subject to approval by the Royal Court of Guernsey, cheques will be sent to
shareholders as soon as practicable and in any event by no later than 22
November 1999.  

(The exact wording of each of the above resolutions is set out in the circular
from BVNF to shareholders and warrantholders dated 13 October 1999.)

Enquiries:
 
Tony Davies,  Director            
Beta Viet Nam Fund                       Tel : 0171 353 2066
                                                       
Louis Castro, Williams de Broe Plc
Financial Advisers to BVNF               Tel : 0171 588 7511


END

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