VOC Vision OP China

TIDMVOC

RNS Number : 9658I

Vision Opportunity China Fund Ltd

23 June 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN

23 June 2011

Vision Opportunity China Fund Limited

(the "Company" or "VOC")

Sale of China Gerui Advanced Materials Group Limited

Vision Opportunity China Fund Limited (AIM: VOC.L) today reports that it has sold all shares of common stock held by it in China Gerui Advanced Materials Groups Limited ("China Gerui") (NASDAQ:CHOP) through a series of on-market transactions. China Gerui is a leading niche and high value-added steel processing company that manufactures and sells specialty steel products in China.

The shares of common stock were previously acquired on 7 June 2010 for $7.0 million, or $5.70 per share, as part of an $18.8 million financing by private placements. No dividends were paid on the shares during VOC's ownership. The total sale proceeds of approximately $4.3 million in cash, or at an average price of $3.50 per share, resulted in a realised loss of $2.7 million. The sale has no material impact on NAV. The net proceeds will be held in cash pending distribution to shareholders.

For further information, please contact:

Vision Opportunity China Fund Limited Tel: +1 (212) 849 8225

David Benway / Adam Benowitz

Canaccord Genuity Limited Tel: +44 (0)20 7050 6500

Guy Blakeney / Sue Inglis

Financial Dynamics Tel: +44 (0)20 7269 7132

Ed Gascoigne-Pees / Ed Berry

NOTE TO EDITORS

Vision Opportunity China Fund Limited is a closed-ended fund traded on AIM. VOC primarily invests directly in listed companies with operations principally within Greater China.

Greater China is a collective term for the territories administered by the People's Republic of China, those administered by the Republic of China and Singapore.

This information is provided by RNS

The company news service from the London Stock Exchange

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