RNS Number:4270P
Guangdong Development Fund Ld
12 January 2007


Guangdong Development Fund

Net Asset Value

12 January 2007


Guangdong Development Fund Limited announces that as at 31st December 2006, the
unaudited net asset value per share of the Company was US$0.241.


In the announcement of the Company's interim results for the period ended 30th
June 2006, the Company's auditors expressed a modified review conclusion 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$4.1 million in the
consolidated balance sheet as at 30th June 2006.


In arriving at the above unaudited net asset value as at 31st December 2006, the
carrying amount of this long term investment has been included in the
consolidated balance sheet at the amount of US$4.1 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.


END


                      This information is provided by RNS
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END

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