GDF Guangdong Dev.

RNS Number:0606N
Guangdong Development Fund Ld
01 December 2006


Guangdong Development Fund Limited

Effective appointment of new manager and receipt of proceeds from disposal


1 December 2006


Guangdong Development Fund Limited ("the Company") announces that the
appointment of GDF Management (Cayman) Limited as the new manager of the Company
in replacement of Guangdong Investment Management Limited and Springridge
Company Limited as the new investment manager of the Company as approved in the
extraordinary general meeting held on 15 June 2006 (the "EGM") is effective from
1 December 2006.


The Company further announces that it has received from the buyers in full the
consideration of total approx. US$6,865,000 for the disposal of all of its
interests in GD Decorative Material (Zhongshan) Co., Ltd., Guangdong
(Zhangjiang) Medium Density Fibre Board Co. Ltd., Honour Million Industries
Limited and Guangzhou Malting Company Ltd. as approved in the EGM.

Ends.



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