06 December 2012

MPO announces US$9 million of share buybacks

5% of the Company's shares repurchased at a 42% Discount to adjusted NAV

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that it has repurchased 5% or c. US$9 million worth of its own ordinary shares in two block transactions. All five million repurchased shares will be cancelled.

The average repurchase price, at 110.7p per share, represents a 42% discount to the fund's latest adjusted Net Asset Value* per share of 190pas of September 30, 2012. The accretive effect of the buyback results in a 2.22% increase in MPO'sAdjusted Net Asset Value per share.

Following the transactions, the Company has 94,929,750 ordinary shares outstanding.

In its on-going efforts to enhance shareholder value, the board remains actively committed to buying back further shares at attractive levels.

Commenting on the transaction, the Chairman of MPO, David Hinde, said: "Considering the quality of MPO'sportfolio and its unique positioning in Asia's fastest growing economy, we believe our shares offer outstanding value at current levels. MPOremains entirely committed to enhancing shareholder value through further accretive share buybacks."

*Note: Adjusted NAVis calculated by taking the NAVper share under IFRSand adjusting inter alia to include the properties owned by the Company at fair value rather than at the lower of cost and net realisablevalue.

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