Macau Property Opportunities Fund : MPO announces Net Asset Value Update

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ANNOUNCEMENT

3 February 2016

Quarterly Net Asset Value Update

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its Adjusted Net Asset Value for the period ended 31 December 2015 was US$245.5 million.

This is equivalent to US$3.21 (218 pence*) per share and represents a decline of 8.7% from the previous quarter.

The Company's Interim Results for the period ended 31 December 2015 are expected to be released on 29 February 2016.

*Based on a US$/GBP exchange rate of 1.473 as at 31 December 2015.

--Ends--

Note:

1. The above figures are estimates only and are unaudited. No reliance should be placed upon the estimated Adjusted Net Asset Value per share which should only be taken as an indicative value.

2. Detailed information on MPO's portfolio and the Macau market is available in the Fund's latest Q4 Investor Update published on the Company's website at www. mpofund.com.

PUBLIC RELATIONS

MHP COMMUNICATIONS

SIMON HOCKRIDGE / ANDREW JAQUES / KELSEY TRAYNOR

TEL: +44 20 3128 8100

MANAGER

SNIPER CAPITAL SINGAPORE: +65 6222 1440

HONG KONG: +852 2292 6700

MACAU: +853 2870 5151

CORPORATE BROKER LIBERUM CAPITAL RICHARD BOOTLE / JONATHAN WILKES-GREEN Tel: +44 20 3100 2232

This document does not constitute, and may not be used for, an offer or an invitation to any person in any jurisdiction to acquire shares. This document is being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published in whole or in part, for any purpose.

This document shall not be distributed in any jurisdiction where such distribution, would be unlawful and until the requirements of such jurisdiction have been satisfied. In particular, this document or any copy thereof shall not be taken, sent or transmitted into the United States, Republic of South Africa, Australia, Canada or Japan or distributed, directly or indirectly in the United States, Republic of South Africa, Australia, Canada or Japan or to any persons residing in such jurisdictions. This document may only be communicated to, and is only directed at persons falling within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or otherwise as permitted. Macau Property Opportunities Fund Limited is a Guernsey incorporated company whose shares have been admitted to trading on the Main Market of the London Stock Exchange.