RNS Number:0193M
Beta Vietnam Fund Ld
23 October 2001

                             COMPANY ANNOUNCEMENT



For immediate release                               23 October 2001


                          BETA VIET NAM FUND LIMITED


        Re: Update on approach by Indochina Finance (Thailand) Limited


Further to the announcement made by Beta Viet Nam Fund Limited (the "Company")
on 24 August 2001, with regard to an approach from Indochina Finance
(Thailand) Limited, the Company announces that at the present time there have
been no significant developments.

A further statement will be made in due course.

Enquiries:

Dick Povey (Chairman)    Beta Viet Nam Fund Limited      +44 1481 731 366

Alastair Stratton        Williams de Broe Plc            +44 207 588 7511

Andrew Bowen             NCB Stockbrokers Limited        +353 1611 5907
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