RNS Number:9639W
Guangdong Development Fund Ld
16 January 2006


                       Guangdong Development Fund Limited

                                Net Asset Value

                                16 January 2006


Guangdong Development Fund Limited announces that as at 31 December 2005, the
unaudited net asset value per share of the Company was US$0.226.


In the announcement of the Company's results for the year ended 31 December
2004, the Company's auditors expressed a qualified audit opinion related to the
carrying amount of a long term investment, namely Foshan Tongbao Co., Ltd. This
investment was included at a carrying amount of US$8 million in the consolidated
balance sheet as at 31 December 2004.


In arriving at the above unaudited net asset value as at 31 December 2005, the
carrying amount of this long term investment has been included in the
consolidated balance sheet at the amount of US$8 million.  Shareholders should
note that any adjustment to the carrying amount of this investment would have a
consequential impact on the Company's unaudited net asset value.







                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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