RNS Number:7111J
London Asia Capital PLC
07 April 2003

LONDON ASIA CAPITAL PLC ("London Asia" or the "Company")

Creation of China investment banking business
Appointment of director


The Company is pleased to announce that Victor Ng, aged 55, has been appointed a
director of the Company.  Victor Ng is based in London Asia's Beijing, China
office and has been responsible for the three investments made by the Company to
date in China.  A former principal with KPMG Singapore, he is a seed-financier
of several start-ups and director of several companies.  He has been involved in
the listing of several businesses on stock markets in Singapore, the US and
Australia, including Chinese companies. A Singapore citizen, he was awarded the
PBM (a public community service medal) by the President of Singapore in 1992.
Victor is also a director of Temima Group plc, which holds 4.1 million shares in
the Company representing 18.5% of the issued share capital.

As part of its continued expansion of activities in China, London Asia has taken
a 25% stake in a newly formed Chinese investment banking venture, Temima China
Investment Banking Group Ltd ("TCIB").  TCIB is a joint venture with Xian
Prutention Investment Development Company Ltd ("Prutention"), a well know
Chinese investment group headed by Mr Qu Xiang Jun, based in Xi'an, capital of
Shanxi Province, China (see details below).  TCIB will carry out corporate
finance and investment banking activities within China, and identify investment
opportunities for London Asia.  TCIB has an initial share capital of RMB10
million (approximately #773,000), and London Asia has acquired its 25% stake in
TCIB via the issue of 1.5 million London Asia shares. Mr Qu has been appointed
Chairman of TCIB, and Mr Victor Ng Deputy Chairman to represent London Asia's
interests.

The Company is continuing with its fund raising activities via the issue of
convertible loan notes with a number of investors having expressed interest in
investing alongside the directors.

Application has been made for the 1.5 million consideration shares for the TCIB
transaction, plus 500,000 shares to be issued to Temima Limited, financial
adviser to the Company, to be traded on AIM. Admission is expected on 11 April
2003. The transaction will increase the number of London Asia shares in issue
from 20.2m to 22.2m.

Said Simon Littlewood, Chief Executive of London Asia: "Bringing Victor onto the
Board, coupled with our involvement in TCIB, strengthens our presence in the
China market and will greatly enhance our ability to identify, negotiate, invest
in and monitor investments in China.  China remains one of the few bright spots
in an otherwise bleak global economic environment and our ability to do deals in
China for shares at a premium to the current share price creates substantial
long term value for our shareholders which should ultimately be reflected in our
share price."

Said Victor: "I am delighted to be joining the Board at such an exciting time
for the Company.  There are a number of opportunities within China for those
with a presence on the ground and an understanding of the local economy and
culture.  Our involvement in TCIB will greatly expand London Asia's resources
and contacts within China.  We are currently performing due diligence on a
number of potential investments which we hope to close in the next few months."


ENQUIRIES:

Simon Littlewood, Chief Executive 020 7486 4297

Graeme Thom, Grant Thornton Corporate Finance 020 7383 5100



About Prutention


Prutention has a team of twenty with experience across a range of industries,
and is the representative in Xi'an for the China Venture Investment Committee, a
Chinese Government venture capital organisation.  Xi'an is one of the most
important cities in China, having served as the seat of 12 imperial capitals for
over a thousand years and is now a world famous tourist destination as the home
of the Terracotta Warriors.

Information required to be disclosed under Schedule 2, rule (f) (ii) - (viii) of
the AIM Rules

Victor Ng (full name Ng Fook Ai Victor)

Current directorships / partnerships            Past directorships / partnership

Asia Cable TV Pte Ltd                           MyWebInc.com Ltd
Bluengine Holding Pte Ltd                       MyWeb Asia Ptd Ltd
Devotion Investment Holding Pte Ltd
Asia Power Corp Ltd
AEC Edu Group Pte Ltd
Biaoqi Cultural & Publishing Co Ltd
Biaoqi Advertisements Co Ltd
Success Science & Technology Development Co Ltd
The Nanyang Insurance Co Ltd
Mercur Business Control (Asia) Pte Ltd
Temima Corporate Advisory Co. Pte Ltd (Singapore)
Temima Co Ltd (Mauritius)
Temima Group plc


Mr Ng was a director of MyWeb Asia Pte Ltd which was put into voluntary
liquidation by the members of the company in 2001.  The company was dormant.

Save as noted above there are no details to be disclosed pursuant to Schedule 2,
rule (f) (ii) - (viii) of the AIM Rules in respect of Mr Ng.


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