GDF Guangdong Dev.

RNS Number:5779P
Guangdong Development Fund Ld
16 January 2007

Guangdong Development Fund Limited

Holding in Company

16 January 2007



Guangdong Development Fund Limited (the "Company") was informed on 15 January
2007 of the following holdings of ordinary shares of $0.01 each in the Company.



ASM Asia Recovery (Master) Fund acquired 4,000,000 ordinary shares on 12 January
2007, following which acquisition it holds 17,430,000 ordinary shares in the
Company, representing 18.0% of the ordinary shares in issue.



ASM Hudson River Fund acquired 1,000,000 ordinary shares on 12 January 2007,
following which acquisition it holds 1,690,000 ordinary shares in the Company,
representing 1.7% 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 15 January 2007 that Bechtel Enterprises
Holdings Inc. no longer holds a disclosable shareholding in the ordinary shares
of the Company.



ENDS




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

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