Water Investee Company Update

RNS Number:7902D
London Asia Chinese Private Equity
13 September 2007

13 September 2007



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


Profits Keep Flowing



LACPEF, the AIM traded, China focused investment fund, is pleased to announce
that its two Singapore listed water investment, Asia Water Technology Ltd. ("
Asia Water") and United Envirotech ("UE"), continue to perform strongly.



Asia Water, which raised #30m of new capital during August, has invested in a
new water project worth #50 million in the Huang-Pi District, Hubei Province,
China.  The project is being carried out jointly with Wuhan City municipal
government to bring potable water to over 1.1m residents of the Huang-Pi
District of Wuhan, under a 30 year contract.  The project will address water
shortages in the region via the construction of three new water treatment
plants, the enhancement of seven existing plants and the construction of a 982km
of piping system.  The project is expected to supply 253,000 tonnes of water to
the region daily.



UE announced revenue for the quarter ended 30 June 07 of #3.2 million, up 32% on
the corresponding period, with net profit for the quarter up 45% to #0.7 million
and net assets of #19.3 million, including cash of over #6 million. The increase
in profit resulted mainly from recently secured engineering contracts and from
its recently acquired subsidiary in Malaysia.



Simon Littlewood, Fund Director, said: "The water sector is expanding rapidly in
China as the need to improve the quality of the existing supplies and shortages
in many parts of the country are being addressed.  Asia Water and UE are both
ideally placed to benefit from this growth, with established track records and
reputations in the sector.  We are working with both companies to ensure that
they have adequate capital in place to enable them to take advantage of the
opportunity."



For further information please contact:


John West/Andrew Dunn                 Cecilia Wong                           Hugh Field
Tavistock Communications              London Asia Ltd                        Collins Stewart Europe Ltd
Tel: 020 7920 3150                    Tel: +852 2251 8373                    Tel: 020 7523 8000

                                      cecilia.wong@londonasia.com






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