ICV Indochina Cap.

 
TIDMICV 
 
Not for distribution, directly or indirectly, in or into the United States or 
any jurisdiction in which such distribution would be unlawful. 
 
 
Indochina Capital Vietnam Holdings Limited ("ICV" or the "Company") 
25 Jan 2010 
 
Indochina Capital Advisors (the 'Investment Manager') has informed the Company 
that Beat Schuerch is resigning as CEO of the Investment Manager with effect 
from 31 January 2010 to join another Vietnam focused fund manager. His 
responsibilities will be assumed by one of the principals of Indochina Capital, 
Rick Mayo-Smith, who has chaired the Company's Investment Committee since 27 
November 2008. 
 
Beat Schuerch has agreed, with the consent of his new employer, to provide 
advice to the Investment Manager on the on-going realisation of assets within 
the Company's portfolio until the Company enters liquidation. Commenting on the 
impending change in management Gordon Lawson, Chairman of the Company, said: 
 
"We appreciate the willingness of all parties involved to look after the 
interests of ICV shareholders and very much welcome that ICV can continue 
relying on Beat's advice for the realisation of ICV's remaining portfolio. We 
also welcome the appointment of Rick Mayo-Smith who has over 15 years of 
investment experience in Vietnam to take responsibility for the realisation of 
all remaining assets from 1 February 2010." 
 
The Company has realised around 90 per cent. of its portfolio since shareholders 
voted on 3 September 2009 to amend the Company's investment policy and begin an 
orderly realisation of assets. There are eight positions left in the portfolio, 
seven of which are private equity or OTC investments and one of which is a 
listed position that has lock-up provision until August 2010. The Investment 
Manager is at an advanced stage of selling one of the private equity positions 
and will have the data-rooms and information memorandums for the remaining 
private equity and OTC positions ready during February for potential investors 
to review. 
 
Beat Schuerch joined Indochina Capital Advisors in 2006 as the COO/CFO playing 
an instrumental part in the IPO of the Company and in early 2009 he was promoted 
to the position of CEO of the Investment Manager. The directors would like to 
thank Beat for his contribution over the last 3 years to the Company and in 
particular, for his handling of the realisation of ICV's portfolio to date. 
 
 
For further information, please contact: 
 
Arbuthnot Securities                                                       Tel: 
+44 20 7012 2000 
Alastair Moreton / Hannah Pearce 
 
Indochina Capital Advisors (Investment Manager)  Tel: +84 8 3520 2002 
Rick Mayo-Smith, CEO Equities 
 
 
 
 
End of Announcement 
 
 
 
[HUG#1376556] 
 

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