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The Asia Opportunities Fund and the Land Development Fund Withdraw from Listing on the BSX.

07 February 2001

Hamilton, Bermuda, 6 February 2001 - The Bermuda Stock Exchange (BSX) today announced the voluntary withdrawal from listing of The Asia Opportunities Fund and the Land Development Fund. The withdrawal from listing was made at the request of the Funds. Under a scheme of arrangement approved by shareholders at their respective Special General Meetings on 22 November, 2000, the Funds, along with the Asia Specialist Growth Fund, were reorganized into the New Asian Property Fund.

For further inquiries on the Asia Opportunities Fund and the Land Development Fund, contact Mr. Tom MacNeil of Jupiter Asset Management (Bermuda) Limited at telephone: 441-292-2760 or facsimile: 441-295-8690.