BVF Beta Vietnam Fd

RNS Number:2771X
Beta Vietnam Fund Ld
14 June 2002

                              COMPANY ANNOUNCEMENT

FOR IMMEDIATE RELEASE                     14 JUNE 2002


                           BETA VIET NAM FUND LIMITED

                            NAV AS AT 31ST MAY 2002

In connection with their comprehensive review of the portfolio of the Beta Viet
Nam Fund ("BVNF" or "the Fund"), BVNF's Board of Directors wishes to announce
that it has received a report from a consultant hired to review and evaluate the
fund's investments in order to assist the Board in maximizing shareholder value.
Valuing small unquoted companies in an emerging market such as Vietnam has
numerous difficulties but in the light of this review the Board has instructed
the Investment Manager expeditiously to comment on the report and to undertake
its own appraisal of the carrying value of each portfolio investment. It is
expected that the results of this appraisal will be available to the Board soon.
  Whilst this exercise is undertaken the publication of the 31st May Net Asset
Value Per Share will be delayed, and it is possible that this may apply to the
30th June valuation as well, although the Board hopes that the valuation will
have been completed by then.

Shareholders should be aware that it is possible that the conclusion of this
review could result in a material provision against the carried value of
investments in the fund. The Board discloses this situation so that all
shareholders may obtain potential price sensitive information on a timely basis.

Enquiries:


NCB Stockbrokers Limited                            Ms Fiona Mulhall
                                                    Phone: + 353 1 611 5907

Bachmann Fund Administration Limited                Ms. Marie Palmer
                                                    Phone: +44 1481 723573


This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.



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