approval of the listing of 798,655,561 voting ordinary shares of the Bermuda-based New Asian Land Fund Ltd.

The fund, which is incorporated in Bermuda, is structured as a close-end fund, with a minimum initial subscription for shares by investors of half a million US dollars.

The investment objective of the fund is to provide its shareholders with capital growth through a portfolio of mainly unquoted equities and direct investments in Asia, with a particular focus on development land in Thailand and the Philippines.

The listing is sponsored by Bermuda International Securities Ltd (a wholly-owned subsidiary of the Bank of Bermuda).