RNS Number:9480P
London Asia Chinese Private Equity
23 January 2007

23 January 2007



London Asia Chinese Private Equity Fund Limited
("LACPEF" or "the Fund")



LACPEF, the China focused investment fund, announces that it has invested up to
#4.6 million in United Envirotech Ltd ("United" or "the Company"), a Singapore
Main Board listed specialist in providing waste water treatment and water to
industrial parks, using membrane technology.



United Envirotech Ltd is an environmental solution provider focused on the water
and wastewater treatment sector, primarily to large industrial parks and
petrochemical companies, including Petrochina and Sinopec.



The Company has established itself as one of the leading one-stop environmental
solution providers to the industrial waste water sector, with a particular
geographical focus in China. As well as its core focus of industrial parks and
the petrochemical sector, its membrane systems have also been used in the
pharmaceutical, food and beverage and textile and dye industries. The Company
generates revenues through the ownership of build operate transfer (BOT) and
transfer operate transfer (TOT) projects in China, as well as consulting and
other services.



The investment is via the issue of new ordinary shares by the Company at
S$0.2668 per share in two tranches, #3.9 million now for 12.7% of the Company,
with a further #0.8 million investment subject to Singapore Stock Exchange final
approval, which would take the Funds holding to 15% of the enlarged share
capital of the Company.



Simon Littlewood, Executive Director of the Fund said: "United is a leading
player in China in the industrial waste water treatment sector, a rapidly
growing area as China attempts to deal with its water shortages and prevent
further damage to its water reserves.  The investment is a good fit with our
other investment in the sector, Asia Water Technology."



John Manser, Chairman of the Fund, said: "This is the Fund's third investment
closed since the start of the year, and takes our commitments to date to over
#43m in 14 companies.  The Board has given conditional approval for further
investments, which should they be completed, will mean that the Fund has
invested all the funds raised at the time of listing last March. ."



                                     -ends-

For further information please visit www.londonasiafunds.com or contact:

John West/Matt Ridsdale                Hugh Field

Tavistock Communications               Collins Stewart Limited
Tel: 020 7920 3150                     Tel: 020 7523 8000






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

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