RNS Number:1479M
London Asia Chinese Private Equity
21 January 2008

21 January 2008

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

                           Investee Companies Update



LACPEF, the AIM traded, China focused investment fund, is pleased to announce
updates from its PLUS listed investee company, China CDM Exchange Centre Limited
("CCEC"), and Singapore listed Asia Water Technology Ltd. ("Asia Water").



CCEC Issue of Equity



Following the �5 million fund raising last November, CCEC has raised a further
�10 million of new money via the issue of 10 million new Ordinary Shares to DnB
NOR Asset Management (Asia) Limited ("DnB").  DnB is the Hong Kong office of
Norway's largest provider of mutual funds and discretionary asset management.
Following the issue, DnB owns 8.7% of CCEC's enlarged share capital. The shares
were issued to DnB at 100p per share, valuing CCEC at �115 million.



Founded in 2006 and traded on the UK's PLUS stock market since December 2006,
CCEC is an advisor to projects in Asia that have the potential to generate
carbon credits under the Clean Development Mechanism ("CDM"). CCEC works with
projects to ensure that they meet the criteria under the CDM, then acts as
broker for the sale of the carbon credits to international buyers.



Mr Kang, Chief Executive of CCEC, said: "The new capital will be used to expand
our operations and enable us to take on more new projects. Our current pipeline
should generate more profits and strengthen our presence in China as a leading
player in the Chinese CDM market."





Asia Water wins contracts and invests in project



Singapore listed investee company, Asia Water, announced last week that it has
invested in a new �22.8 million wastewater treatment project and secured a �4.1
million nuclear power plant water treatment project ("the project").



Asia Water's wholly-owned subsidiary, Asia Water Investments Pte. Ltd ("AWI"),
together with government-owned Wuhan City Dongxihu District Development
Investment Co., Ltd ("Wuhan City Development") will form a new subsidiary
company, Wuhan Dongxihu, to manage the project. AWI will hold a 70% stake in
Wuhan Dongxihu and Wuhan City Development will own the remaining 30%.



The Build-Operate-Transfer contract involves the construction of a 101km2
drainage network, which includes a 73.8km sewage pipeline, eight pumping
stations and other related facilities. Upon completion, the network will link
several key commercial, industrial and agricultural areas in the Wuhan Dongxihu
district. The wastewater collected will be treated by another of the Group's
associated companies - Wuhan Hanxi Waste Water Treatment Co., Ltd ("Wuhan 
Hanxi"), before being discharged into a local river. Wuhan Dongxihu has been
granted an exclusive license to manage the project for a period of 25 years,
including an initial construction period, which will last around 18 months. Both
Wuhan Hanxi and Wuhan Dongxihu will generate fees for both wastewater treatment
and wastewater collection and transportation.



Asia Water has also announced that it has secured a �4.1 million water treatment
project for the first nuclear power plant to be constructed in China that uses
advanced saltwater desalination technology. The plant will be built in Dalian,
Liaoning Province, and is scheduled to open for operations by the fourth quarter
of 2009.  With an initial power generating capacity of 4x1,000 MW, the plant
will be the largest nuclear power plant to be built in China with such capacity
in a single phase.



This will be Asia Water's third nuclear power plant water treatment project,
with the other two located in Shenzhen and Qinshan, and it firmly establishes
Asia Water as one of the largest contractors for nuclear power plant water
treatment systems in China.



Huang Hanguang, CEO of Asia Water, said: "We believe that demand for nuclear
power is expected to grow in China, underpinned by a rapidly growing economy. As
one of only three companies licensed to provide water treatment services for
nuclear power plants in China, Asia Water is in an enviable position to
capitalise on its 'first to market' advantage and to secure other such projects
in this growing sector."



"This latest project will strengthen further Asia Water's reputation in the
power plant generation industry. Water treatment systems for nuclear power
plants require more stringent and precise standards than traditional coal-fired
power plant water treatment systems, attesting to our superior technical
capability. Our portfolio of nuclear projects provides strong credentials to
help us secure more power plant projects in China and overseas."





For further information please visit www.lacpefund.com, or 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 8350
                            cecilia.wong@londonasia.com





About Asia Water Technology Ltd.

Singapore stock market listed AWT provides total engineering solutions for water
purification and wastewater treatment systems. Its business is primarily
conducted through its subsidiary in China, which owns its own patented core
technologies and works closely with leading technology partners in the
international and local water treatment arena. For more information on the
company, please visit: www.asiawatertech.com.



About China CDM Exchange

Headquartered in Beijing, China, CCEC provides brokerage, advisory and research
services relating to the reduction of greenhouse gases in Asia. It works with
businesses and projects that generate carbon credits, and assists the project
owner to identify buyers for and sell on those carbon credits.  As well as
providing advice to projects which generate carbon credits, CCEC also acts as an
emissions broker and maintains its own carbon trading portfolio.  It also
manages an on-line platform for environmental commodity transactions in China.
For more information on the company, please visit: www.chinacdmex.com.


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

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