Aseana Properties Limited : Transaction in Own Shares

24 January 2012

Aseana Properties Limited

("Aseana" or "the Company")

Transaction in own shares

Aseana Properties Limited (LSE: ASPL), a property developer investing in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, announces that on 23 January 2012 it purchased through Panmure Gordon (UK) Limited 250,000 of its ordinary shares of US$0.05 each ("Shares") at a price per Share of US$0.35. Following the purchases, the Company holds 452,221 Shares in treasury and has 212,072,779 Shares in issue (excluding Shares held in treasury).

The above figure of 212,072,779 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FSA' s Disclosure and Transparency Rules.

-Ends-

For further information:

Aseana Properties Limited                      Tel: [phone]

Tan May Lee                                         Email: [e-mail]

Panmure Gordon (UK) Limited                 Tel: [phone]

Richard Gray / Andrew Potts                   Email: [e-mail]

/ Brett Jacobs

Tavistock Communications                     Tel: [phone]

Jeremy Carey / James Verstringhe          Email: [e-mail]

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Aseana typically invests in development projects at pre-construction stage. Investment is made in projects where it is believed there will be a minimum 30% annualised return on equity ("ROE") on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.