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RNA Gold Bullion Fund Ltd. Announces Resignations

11 11 1999

Hamilton, Bermuda, October 11th, 1999 - RNA Gold Bullion Fund Ltd. today announced that Messrs Neil Ross, Andrew (Nan) Sherrill and Dr. Thomas Peter Treichler have each resigned as a director of the Fund.

The Company also noted that AsiaVest Gold Management Limited has resigned as co-Investment Manager of the Fund.

The Company stated that it has no immediate intention to replace AsiaVest Gold Management Limited and that RNA Gold Management Ltd. has now taken over the role of sole Investment Manager.

The Board thanked Messrs. Ross, Sherrill and Treichler and AsiaVest Gold Management Limited for their contributions to the Company.