OAM Asian Recovery Fund (the “Company”)

The board of directors of the Company wish to announce the following:

1              Custodian

Deutsche Bank International Limited has replaced The Royal Bank of Canada Trust Company (Cayman) Limited as the Company’s custodian.

Deutsche Bank International Limited is regulated by the Jersey Financial Services Commission in the carrying on of Fund Services Business and Investment Business under the Financial Services (Jersey) Law, 1998 and is an Approved Custodian within the meaning given in the Financial Services (Investment Business (Client Assets)) (Jersey) Order 2001.  It is a wholly owned subsidiary of Deutsche Bank AG.  As at 31^st December, 2009, Deutsche Bank AG had total assets of €1,501 billion, shareholders equity of €37 billion, a Tier 1 capital ratio of 12.6%, and was rated Aa1 by Moody’s.

2              Contact Details

The contact details for the new custodian are as follows:

Deutsche Bank International Limited

St Paul’s Gate, New Street

P.O. Box 727

St Helier

Jersey  JE 87B

For further information in relation to the above announcement please contact Natalie Lawson of Overseas Asset Management (Cayman) Ltd. (Tel:  +1 345 949 8787 or natalie@oam.com.ky ).