Mr. Peter Dinning Joins Saigon Asset Management Press Release

SAM 1st November, 2011

(Ho Chi Minh City, Vietnam) Saigon Asset Management (“SAM”), the investment manager of the two Frankfurt listed investment funds Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), announced the appointment of Mr. Peter Dinning as Senior Managing Director. He will spearhead SAM’s new special situations real estate assets fund, Vietnam Alternative Holding (VAH), as well as assist in optimizing the performance of SAM’s two existing funds.

Mr. Dinning has over 20 years of experience in the real estate field and has worked in Vietnam since 1997. He is currently the Chairman of Colliers International (Vietnam), one of the largest real estate service providers, managing over US$1 billion worth of assets in Vietnam. Mr. Dinning was previously the Managing Director of VinaCapital Real Estate, in charge of the AIM-listed US$600 million Vinaland Real Estate Fund and real estate investments made by the Vietnam Opportunity Fund (also AIM Listed). He led the investments of the first round of Vinaland’s US$250 million in a variety of income-producing properties and development projects in major urban and resort areas throughout Vietnam.

According to Mr. Dinning, “SAM has an impressive track record and reputation in the marketplace and a disciplined governance policy that garners a high level of respect and trust from its investors. I have previously worked with Louis Nguyen for many years and look forward to adding value to our funds’ portfolio. I believe the current market is presenting unprecedented opportunities and now is the time to execute.”

Commenting on Mr. Dinning’s arrival, Mr. Louis Nguyen, Chief Executive Officer of SAM said, “We are delighted to have Peter on board. His knowledge and experience in the Vietnam market, deal sourcing, property valuation, real estate development, along with his extensive local and international network will greatly enhance our deal pipeline as well as our ability to reposition our funds for optimal gain.”

SAM is in the process of launching Vietnam Alternative Holding (VAH), a special situations real estate fund to target coveted real estate assets that are under severe financial distress. In the first half of 2011, non- performing loans in Vietnam reached nearly US$10bn. Unlike other markets where investors buy debt and become embroiled in protracted legal proceedings, SAM will work closely with local banks to obtain a substantial stake of the underlying real estate properties at a deep discount by leveraging the distressed nature of the properties.

About Saigon Asset Management

Established in 2007, Saigon Asset Management (SAM) is the investment manager of Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH), both Cayman Islands investment funds, listed and traded on the Frankfurt Stock Exchange and Xetra. With a total initial asset value of US$125m, the portfolios include listed securities, private equity, and real estate projects. Since inception, VEH and VPH have outperformed their peers and have ranked in the top tier. In 2008, LCF Rothschild ranked VEH ranked as the top performing equity fund in Vietnam, and in 2009, VPH was ranked as the top performing real estate fund in Vietnam. SAM is headquartered in Ho Chi Minh City, Vietnam and has a team of over 25 investment professionals. For more information, please visit our website at