Vision Opportunity - NAV Update

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

8 May 2012

Vision Opportunity China Fund Limited

(the "Company" or "VOC")

Net Asset Value at 4 May 2012

Vision Opportunity China Fund Limited (AIM: VOC.L) today reports that its unaudited Net Asset Value ("NAV") as at 4 May 2012 was US$13.70 million (30 April 2012: US$13.58 million).

As at 4 May 2012, VOC had 65,289,574 ordinary shares of no par value in issue (the "Ordinary Shares"), which resulted in an unaudited NAV per Ordinary Share of US$0.210 as at that date (30 April 2012: US$0.208).

For further information, please contact:

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

Adam Benowitz

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

Sue Inglis

FTI Consulting Tel: +44 (0)20 7269 7132

Ed Gascoigne-Pees / Ed Berry