RNS Number:6741S
Guangdong Development Fund Ld
14 October 2005




                       Guangdong Development Fund Limited

                                Net Asset Value

Guangdong Development Fund Limited announces that as at 30th September 2005, the
unaudited net asset value per share of the Company was US$0.245.

In the announcement of the Company's results for the year ended 31st December
2004, the Company's auditors expressed a qualified audit opinion related to the
carrying amount of a long term investment, namely Foshan Tongbao Co., Ltd. This
investment was included at a carrying amount of US$8 million in the consolidated
balance sheet as at 31st December 2004.


In arriving at the above unaudited net asset value as at 30th September 2005,
the carrying amount of this long term investment has been included in the
consolidated balance sheet at the amount of US$8 million.  Shareholders should
note that any adjustment to the carrying amount of this investment would have a
consequential impact on the Company's unaudited net asset value.



                      GUANGDONG DEVELOPMENT FUND LIMITED

   (a company incorporated with limited liability in the Bailiwick of Jersey)


                                13th October 2005




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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