Major Interest in Shares

Date:                                22 December 2009

On behalf of:                    Aseana Properties Limited ("Aseana" or "the Company")

Immediate Release

Aseana Properties Limited

• Major interest in Shares

Aseana Properties Limited, a leading property developer, has recently received notification of the number of ordinary shares and percentage voting rights in the Company held by Henderson Global Investors Ltd.  As a result of an acquisition of shares, Henderson Global Investors Ltd now holds 21,496,171 ordinary shares in the Company representing 10.11% of the issued voting share capital of the Company.

Aseana is listed on the Main List of the London Stock Exchange.

-Ends-

Further information, please contact:

Enquiries:

Notes to Editors

• Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.  

• Investment is made in projects where it is believed there will be a minimum 30% annualised return on equity ("ROE") on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.

• No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.

• The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:

• • An increasing standard of living and urbanisation driven by a burgeoning young and middle class population

  • Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership

  • Improving availability of mortgages to encourage property ownership

  • Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties

• Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.

ENDHOLEAFAAAELNFFE