Tranche Update on VinaLand Limited's Equity Buyback Plan announced on October 14, 2011.

VinaLand Limited is a closed-end investment company. The Company's objective is to focus on growth segments within Vietnam's real estate market, namely residential, office, retail, industrial and leisure projects in Vietnam and the surrounding countries in Asia. All its investments are located in Vietnam. The Company is in a cash return period and will not make any investments, except where funds are required for existing projects. The Company will focus on the development of selected mixed use and residential projects, within its portfolio of property assets. The Company will also undertake preliminary infrastructure works on the larger projects in its property portfolio, in particular to manage the completion of works according to statutory requirements. The principal activities of the Company's subsidiaries include property investment and hospitality. VinaCapital Investment Management Limited is the Company's investment manager.