Alternative Asset Opportunities PCC Limited

4 January 2005

In accordance with paragraph 21.20(l)(ii) of the Listing Rules, as at 31
December 2004, the Company did not hold any investments with a value greater
than 5% of the Company's gross assets.

Contact:

Roger Phillips (Tel: 01481 703431)

Kleinwort Benson (Guernsey) Fund Services Limited



END



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