Macau Property Opportunities Fund : MPO announces Net Asset Value Update

3 August 2016

Quarterly Net Asset Value Update

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its estimated Adjusted Net Asset Value for the period ended 30 June 2016 was US$226 million.

This is equivalent to US$2.96 (223 pence*) per share and represents an increase of 0.3% from the previous quarter.

*Based on a US Dollar/Sterling exchange rate of 1.326 as at 30 June 2016.

Note:

1. The above figures are estimates only and are unaudited. The Company's audited Adjusted Net Asset Value as at 30 June 2016, which may be materially different from the above estimates, will be announced in conjunction with the release of the Company's audited annual results for the period ended 30 June 2016, which are expected to be released on 21 September 2016. 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 Investor Updatepublished on the Company's website at www.mpofund.com.

3. The content of this announcement contains inside information.

About Macau Property Opportunities Fund

Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey. Listed on the London Stock Exchange's main market, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.

Launched in 2006, the Fund targets strategic property investment and development opportunities in Macau and Mainland China's western Pearl River Delta. Its current portfolio comprises a mix of well-positioned residential and retail property assets.

The Fund is managed by Sniper Capital Limited, an Asia-based property investment manager with a proven track record in fund management and investment advisory.

Stock Codes: Bloomberg: MPO LN Reuters: MPO.L

Investor Relations Sniper Capital Doris Boo

Tel: +65 6222 1440

info@snipercapital.com www.snipercapital.com

Public Relations

MHP Communications Andrew Jaques / Simon Hockridge / Kelsey Traynor Tel: +44 20 3128 8100

Corporate Broker Liberum Capital Richard Bootle / Henry Freeman /

Jonathan Wilkes-Green Tel: +44 20 3100 2232

Company Secretary & Administrator Heritage International Fund Managers

Mark Huntley / Laurence McNairn Tel: +44 14 8171 6000