GDF Guangdong Dev.

RNS Number:1541P
Guangdong Development Fund Ld
08 January 2007

Guangdong Development Fund Limited

Holding in Company

8 January 2007



Guangdong Development Fund Limited (the "Company") was informed on 8 January
2007 of the following holdings of ordinary shares of $0.01 each in the Company.


Roy Nominees Limited acquired 3,500,000 ordinary shares on 5 January 2007,
following which acquisition it holds 11,900,000 ordinary shares in the Company,
representing 12.3% of the ordinary shares in issue.


ASM Asia Recovery (Master) Fund acquired 2,760,000 ordinary shares on 5 January
2007, following which acquisition it holds 13,430,000 ordinary shares in the
Company, representing 13.9% of the ordinary shares in issue.


ASM Hudson River Fund acquired 690,000 ordinary shares on 5 January 2007,
following which acquisition it holds 690,000 ordinary shares in the Company,
representing 0.7% of the ordinary shares in issue.


Both of ASM Asia Recovery (Master) Fund and ASM Hudson River Fund are currently
managed by Argyle Street Management Limited.


The Company was also informed on 8 January 2007 that FE Select Investments
Limited no longer holds a disclosable shareholding in the ordinary shares of the
Company.



ENDS




                      This information is provided by RNS
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