Pacific Alliance China Land : Declaration of Dividend

PACIFIC ALLIANCE ASIA OPPORTUNITY FUND LIMITED

5 September 2019<_o3a_p>

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Pacific Alliance China Land Limited

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Declaration of Dividend

Pacific Alliance China Land Limited ("PACL" or the "Company"), (AIM: PACL), the closed-end investment company admitted to trading on AIM, announces a distribution to shareholders of US$5.0 million by way of a dividend of US$1.88 per share, rounded down to the nearest US$0.01 (the "Dividend"), from the proceeds of the capital reduction of the Tianjin WFOE used for the Company's Project Beijing Olympic.

The total Dividend is based on the Company's unaudited 30 June 2019 NAV of US$6.9 million, reduced by estimated operating, delisting and winding up expenses plus a reserve. The Board has determined that distribution by way of a dividend, instead of a mandatory repurchase, is in the best interests of Shareholders at this time because it maintains the required number of the Company's shares to continue to be admitted to trading on AIM.<_o3a_p>

The record date for the Dividend is 13 September 2019. All Shareholders as at the record date will be able to participate in the Dividend without any further action required on their part.

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The timetable for the Dividend is as follows:

Ex-Date:<_o3a_p>	12 September 2019<_o3a_p>
Record Date:<_o3a_p>	13 September 2019<_o3a_p>
Payment Date:<_o3a_p>	20 September 2019<_o3a_p>

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Following the Dividend to Shareholders, the Company will put a proposal to Shareholders to commence an orderly wind up of the Company and cancellation of the Company's shares from trading on AIM.Once the Company is delisted, and liquidation of the Company is completed, which the Manager expects to take place by the end of the year, all excess cash will be paid to shareholders in a final distribution.<_o3a_p>

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For further information please contact: <_o3a_p>

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MANAGER: <_o3a_p> Patrick Boot <_o3a_p> Pacific Alliance Real Estate Limited <_o3a_p> 15/F, AIA Central<_o3a_p> 1 Connaught Road<_o3a_p> Central, Hong Kong<_o3a_p> T: (852) 2918 0088 <_o3a_p> F: (852) 2918 0881 <_o3a_p> [e-mail]<_o3a_p> <_o3a_p>	LEGAL COUNSEL: <_o3a_p> Jon Lewis <_o3a_p> PAG <_o3a_p> 15/F, AIA Central<_o3a_p> 1 Connaught Road<_o3a_p> Central, Hong Kong<_o3a_p> T: (852) 2918 0088 <_o3a_p> F: (852) 2918 0881 <_o3a_p> [e-mail]<_o3a_p>
BROKER: <_o3a_p> Henry Freeman<_o3a_p> Liberum Capital Limited<_o3a_p> T: (44) 20 (0) 20 3100 2000<_o3a_p> www.liberum.com<_o3a_p> <_o3a_p> <_o3a_p>	NOMINATED ADVISER: <_o3a_p> Philip Secrett <_o3a_p> Grant Thornton UK LLP<_o3a_p> T: (44) 20 7383 5100<_o3a_p> [e-mail]<_o3a_p>

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About Pacific Alliance China Land Limited<_o3a_p>

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Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China.<_o3a_p>

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For more information about PACL, please visit:www.pacl-fund.com<_o3a_p>

Pacific Alliance China Land Limited is managed by a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies. PAG has a presence across Asia with over 350 staff working in the region.<_o3a_p>

For more information about PAG, please visit:www.pagasia.com<_o3a_p>

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.<_o3a_p>

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