Press release

For immediate release on Friday 7th March, 2008

The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any public offering of securities to be made in the United States would have to be made by means of a prospectus that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial statements. Neither this document nor the information contained herein constitutes an offer to sell or the solicitation of an offer to buy any securities. These materials do not constitute an offer of securities for sale in the United States. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.

Candover Investments plc Preliminary results for the year ended 31st December, 2007

Financial highlights:

• Net assets per share increased by 37.4% over the 12 months to 31st December 2007. FTSE All-Share Index increased 2.0% over the same period

• Net assets per share were 2065p, compared to net assets per share of 1503p at 31st December, 2006

• Total dividend per share increased by 11.1% to 60.0p (2006: 54.0p)

• Profits before tax of £21.0 million (2006: £20.6 million)

• Ten year compound growth in net assets per share of 14.5% per annum; FTSE All- Share Index growth over the same period of 3.1% per annum

• £150 million raised via a US private placement bond issue

Operating highlights:

• Invested £90.5 million in the year, of which £73.5 million was invested alongside the 2005 Fund in four new investments – Ferretti, Parques Reunidos, Capital Safety Group and Alma

• One new investment announced since the year end – the delisting of Stork

• Realisations and refinancings generated a record £162.4 million of proceeds during the year

Candover Investments plc T +44 (0) 20 7489 9848 Registered in England No. 1512178 at the address shown. An investment company 20 Old Bailey F +44 (0) 20 7248 5483 within the meaning of part VIII of the EC4M 7LN E [email protected] Companies Act 1985.

• Full exits were achieved from Vetco, Thule, Dakota, Minnesota & Eastern Railroad Corporation, Bureau van Dijk and Get. In addition, was listed on the London Stock Exchange

• €5bn Candover 2008 Fund launched, Candover’s tenth fund. Commitment of €1 billion from Candover

• Candover Asia to be established during 2008

Gerry Grimstone, Chairman of Candover Investments plc, commented:

“Despite turbulent markets, Candover has continued to perform strongly during the year. We have enjoyed record returns from realisations and our European network has shown resilience, as demonstrated by our recent investment in Stork. 2008 will be a challenging environment in which to operate but history has shown that a downturn in the markets can prove to be a good time for investing. We do not expect the rate of realisations achieved in 2007 to continue into 2008, but I am confident that we are well positioned to make new investments.”

Ends.

For further information, please contact:

Gerry Grimstone +44 207 489 9848 Chairman, Candover Investments plc

Colin Buffin Managing Director, Candover Partners Limited +44 207 489 9848

Susannah Voyle/Peter Hewer +44 207 353 4200 Tulchan Communications

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Chairman’s statement

In what has been a turbulent time for financial markets, Candover has continued to perform strongly throughout the year. We have enjoyed record returns from realisations and good investment opportunities have continued to be sourced across our European network.

Our performance

Details of the year are set out in the operational and financial reviews which follow, but I am pleased to report that our net assets per share (NAV) increased by 37.4% to 2065p, compared to a 2.0% increase in the FTSE All-Share Index over the same period. Profits before tax increased to £21.0 million compared to £20.6 million last year.

We invested £90.5 million in the year of which £73.5 million was invested alongside the Candover 2005 Fund in four new investments, namely the of the luxury yacht manufacturer Ferretti; the theme park operator Parques Reunidos; the manufacturer of fall protection equipment, Capital Safety Group; and the French tax advisory and cost reduction business, Alma Consulting Group. A further investment has been made in Stork, a Dutch engineering conglomerate, since the year-end.

Realisations and refinancings generated £162.4 million of proceeds during the year. We sold our investments in Vetco, Thule, the Dakota, Minnesota & Eastern Railroad Corporation, Bureau van Dijk and Get. In addition, Wellstream was listed on the London Stock Exchange.

Our year-end cash balance net of borrowings was £114.2 million as against £29.7 million at the end of the previous year, driven by our strong realisations. Candover is making more active use of its balance sheet and consequently, as previously reported, we have raised £150 million in debt finance from a US private placement bond issue as part of our preparations for the Candover 2008 Fund. £120 million of this finance was received in 2007, with the remainder received after the year end.

The strength of the euro against the pound in the second half of the year benefitted the valuation of our portfolio and, combined with movements on our cash portfolio net of debt, added about 78p to our NAV. As a matter of policy, we see no need to hedge our currency exposures, but £120 million of our debt financing has been swapped into floating rate euros to match our euro denominated commitment alongside the funds.

Our environment

Although 2007 was another record year for European buyouts, deal volumes in the second half of 2007 were significantly affected by the credit slowdown resulting from the US sub- prime mortgage crisis. The impact was felt most strongly at the largest end of the buyout market, as the lack of availability of debt finance considerably lowered levels of activity. Our part of the market has not been as badly affected and we are still able to do deals. Realistically, however, 2008 is likely to be a quieter year than 2007.

Private equity remained in the public spotlight during 2007, with intense media scrutiny focusing on taxation and transparency issues. During the year, the British

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Association (BVCA) asked Sir David Walker to undertake an independent review of the adequacy of disclosure and transparency in the industry, and the Guidelines resulting from that review were published in November. The Guidelines, which are a voluntary set of rules intended to be implemented on a “comply or explain” basis, require greater disclosure by large private equity firms and their portfolio companies, and industry- wide data collection and dissemination. In short, we welcome these initiatives and we will comply in full.

Candover, because of its listed status, already makes much greater public disclosure regarding its investments than most private equity firms. We will be placing greater emphasis on corporate responsibility going forward and we discuss this, and our obligations under the Guidelines, more fully in the Corporate Responsibility section of the Report and Accounts which will be published in April.

Candover 2008 Fund

The Candover 2005 Fund is now 72% committed and Candover Partners have therefore commenced marketing the Candover 2008 Fund with a target of €5 billion. The objectives, scope and principal terms of this new Fund are expected to be essentially the same as those of the Candover 2005 Fund.

Under the terms of a coinvestment agreement, Candover Investments plc will be committing €1 billion to the Fund, and dependent on the overall performance of the Fund, will be entitled to between 2% and 5% of any profit made by that Fund, depending on the investment multiple achieved by the Fund. These are the same terms as applied for the Candover 2005 Fund.

Our people and operations

We have previously reported that Nico Lethbridge, who had been on the Board of Candover since January 2003, died on 16th August, 2007 following an accidental fall. Nico was a tremendous asset to us and we miss him very much.

During the year, Stephen Curran, who retired as Chairman of Candover in 2006, stepped down from his position as a non-executive director. Stephen was one of the original architects of Candover, and together with Roger Brooke, our Life President, established the foundations upon which our success has been built. On behalf of Candover, I would like to thank Stephen very much for his great contribution to the Company for over 25 years.

Lord Jay of Ewelme was appointed as a non-executive director with effect from 1st January 2008 and we are delighted to welcome him on to the Board. Lord Jay is a former Permanent Under-Secretary at the Foreign Office and Head of the Diplomatic Service, having previously served as British Ambassador to France. His distinguished civil service career and his subsequent commercial experience give him unrivalled insight and expertise in international affairs which will be invaluable to Candover as we develop our business further. I am pleased to say that Nicholas Jones will be joining the Board as from 14th April, 2008. Nicholas is Vice Chairman of Lazard in London and one of the most experienced bankers in the City. His skills, knowledge and experience will add great value to the Board.

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Jimmy West, who has been on the Board for over 20 years, will be stepping down at the AGM and will be succeeded as Senior Independent Director by Antony Hichens.

We have recently announced that we have recruited Jamie Paton to open our first office in Asia. Jamie, who previously spent more than seven years in Hong Kong establishing 3i’s North Asian business, will initially be based in Hong Kong while we evaluate options in the region. We already have extensive contacts and links in Asia through our European portfolio and by working with someone as experienced in the region as Jamie, we are confident that we can properly investigate the market potential. It’s a toe in the water for us, in a part of the world which we believe has the potential to develop excellent returns for us in the years ahead.

We have spent some considerable time reviewing how our business could develop using the private equity skills that we have, and Candover Asia is the first initiative to be pursued. The Board will continue to review other initiatives during the forthcoming year and if we think they can enhance shareholder value, we won’t hesitate to pursue them. I emphasise, however, that our European buyout business will remain our core focus.

During the year, we strengthened our pan-European buyout team, hiring two new directors and six investment managers. We now have 39 professionals based in our four European offices, and in addition to our investment team, have specialists focusing on origination, portfolio management and debt financing. I believe that we have one of the strongest teams in the private equity industry.

Dividends

The Board is recommending a final dividend of 40.0p per share (36.0p in 2006), making a dividend payable for the year of 60.0p per share (54.0p in 2006), an increase of 11.1%. We expect to maintain a progressive dividend policy but this will depend, of course, on the underlying revenue that is generated by our investments.

Outlook

2008 will be a challenging environment in which to operate. The tight credit market conditions show no sign of slackening, and this will inevitably have an impact on both the pricing of transactions and the overall level of activity in the buyout market. As I indicated at the half year, lower debt multiples may result in lower prices and this may cause vendors, including Candover, to delay selling businesses until a recovery is seen in the market. This is likely to mean that the record levels of realisations enjoyed in 2007 will not be a feature of 2008.

However, history has shown that a downturn in the markets can prove to be a good time for investing. Candover has a long track record of investing through market cycles and over the past 28 years our returns have been remarkably consistent. We enjoy an excellent reputation within the banking community in terms of returning debt capital, and this should ensure we are well positioned to obtain financing when we find suitable transactions.

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Candover has always put a strong focus on helping management improve the operational performance of our portfolio companies and this is one of the ways in which we make our money. So even though deal activity may be less, I have no doubt that the development of the portfolio will continue to create value during 2008.

The winners in these markets will be those players that continue to focus on the fundamentals, as we do at Candover. Finding and backing high quality management teams using an investment discipline we have refined over the years has allowed us to deliver satisfactory returns to shareholders, and we confidently expect this to continue.

Gerry Grimstone Chairman 7th March, 2008

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Operational review

Although 2007 was another record year for European private equity with transactions worth €175 billion, the majority of deal activity took place in the first half of the year, before the fallout from the US sub-prime mortgage crisis hit the buyout market. Candover invested in four transactions during the year. Three were completed before July. Since the credit slowdown we have been able to structure and execute two sizeable transactions: the Alma buyout in December and the delisting of Stork in February 2008.

Investments

The Candover 2005 Fund made four new investments during the year, with Candover investing £73.5 million and the Candover 2005 Fund £445.0 million.

Date of Company Activity Candover 2005 investment Fund £m £m

January Ferretti Luxury motor yacht 32.1 194.3 manufacturer March Parques Operator of attraction parks 10.5 63.5 Reunidos June Capital Safety Fall protection equipment 11.5 68.3 Group December Alma Consulting Cost reduction and tax 19.4 118.9 Group recovery services 73.5 445.0

Since the year-end, the Candover 2005 Fund has completed one further transaction: the delisting of Stork, a Dutch engineering conglomerate, from the Amsterdam Stock Exchange. Candover invested £54.7 million, alongside the Candover 2005 Fund which invested £336.0 million.

Candover made two investments in existing portfolio companies:

• £7.0 million in Wood Mackenzie, alongside £64.6 million provided by the Candover 2001 Fund, to acquire a further 24% stake from the directors and staff of the business.

• £4.2 million in Ontex, alongside £32.0 million provided by the Candover 2001 Fund as part of the refinancing which was completed during the year.

Realisations

2007 was a record year for realisations with Candover and its managed funds receiving proceeds totalling £1.2 billion during the year; Candover’s share was £162.4 million. Our realisations were in the main well advanced before the market correction, the exception to this being Get, the first exit from the Candover 2005 Fund, which took place at the end of the year.

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The principal realisations are set out below:

Date of Company Proceeds Type realisation Candover 2001/2005 Fund £m £m

Feb/July Vetco International 19.3 178.4 Trade sale April Wellstream 17.6 156.0 IPO May Innovia Films 7.4 57.9 Refinancing July Thule 31.0 261.9 Private equity September Dakota, Minnesota 27.4 - Trade sale & Eastern Railroad October Bureau van Dijk 16.7 142.7 Private equity December Get 29.4 197.2 Private equity Other 13.6 3.8 162.4 997.9

Candover 2008 Fund

Following the completion of the Stork transaction, the Candover 2005 Fund is now 72% committed and marketing of a €5 billion successor fund, the Candover 2008 Fund, has now commenced.

Outlook

Large deals aside, the private equity market is continuing to display resilience, and despite the ongoing uncertainty in the financial markets, our enhanced European network continues to generate a steady flow of investment opportunities. Our focus on established businesses with good growth prospects and strong management teams, combined with our reputation for prudent deal structuring and use of leverage will, we believe, stand us in good stead over the coming year.

Colin Buffin Marek Gumienny Managing Director Managing Director Candover Partners Limited Candover Partners Limited 7th March, 2008 7th March, 2008

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20 largest investments as at 31st December, 2007

Residual cost Directors’ Effective % of Dividends Date of of investment valuation equity interest Candover’s Basis of received Year Investment Geography investment £000 £000 (fully diluted) net assets valuation £m end Sales Earnings1 Ferretti Italy January 2007 32,099 41,915 5.5% 9.3% Multiple of earnings – August 07 €950.8m €158.4m Luxury yacht manufacturer Hilding Anders Sweden December 2006 27,418 28,792 9.1% 6.4% Multiple of earnings – December 06 SEK5,160.6m SEK852.7m Bed manufacturer Springer Science + Business Media Germany January/ 573 28,471 4.0% 6.3% Multiple of earnings – December 06 €919.9m €250.3m Academic publisher September 2003 DX Group UK September 2006 28,038 28,038 8.9% 6.2% Multiple of earnings – June 074 £143.1m4 £37.4m4 Mail services Gala Coral UK March 2003/ 24,775 20,913 1.8% 4.6% Multiple of earnings – September 07 £1,309.9m £401.8m Retail gaming October 2005 Alma France December 2007 19,401 20,013 5.5% 4.4% Transaction value – See note 2 See note 2 See note 2 Cost reduction and tax recovery services Wood Mackenzie UK July 2005/ 7,093 19,048 6.3% 4.2% Multiple of earnings – December 06 £61.5m £21.0m Energy research October 2007 EurotaxGlass’s Switzerland June 2006 17,394 18,571 8.0% 4.1% Multiple of earnings – December 065 €56.0m5 €19.2m5 Automotive data intelligence Wellstream UK March 2003 11 14,244 1.3% 3.2% Market price 0.2 December 06 £147.2m £24.3m Oil & gas pipeline ALcontrol UK December 2004 13,202 14,038 6.8% 3.1% Multiple of earnings – March 07 £107.1m £18.6m Laboratory testing Qioptiq UK December 2005 9,567 12,995 7.4% 2.9% Multiple of earnings – December 066 $177.8m6 $26.8m6 Optical engineering Ontex Belgium January 2003 21,324 11,793 6.3% 2.6% Multiple of earnings – December 06 €911.9m €88.8m Hygienic disposables Capital Safety UK June 2007 11,469 11,342 6.5% 2.5% Transaction value - See note 2 See note 2 See note 2 Fall protection equipment Parques Reunidos Spain March 2007 10,440 11,234 5.6% 2.5% Transaction value – September 077 €213.1m7 €96.2m7 Operator of attraction parks Aspen US June 2002 6,814 9,872 0.8% 2.2% Market price 0.2 December 06 $1,676.2m $487.3m Reinsurance Equity Trust UK May 2003 7,587 7,943 5.5% 1.8% Multiple of earnings – December 06 €99.1m €16.8m Trust services Innovia Films UK September 2004 2,459 5,566 8.0% 1.2% Multiple of earnings – December 06 €383.9m €43.7m Speciality film Ciclad 4 France July 2005 2,856 3,669 NA 0.8% Multiple of earnings – See note 3 See note 3 See note 3 French buyouts ICG Mezzanine Fund 2003 UK July 2000 3,181 3,613 NA 0.8% Multiple of earnings – See note 3 See note 3 See note 3 Mezzanine fund Ciclad 3 France April 2000 £nil 3,360 NA 0.7% Multiple of earnings – See note 3 See note 3 See note 3 French buyouts

1. Earnings figures are taken from the portfolio company’s most recent audited accounts or financial statements filed with regulatory bodies The figures shown are the total earnings on ordinary activities before exceptional items, depreciation, goodwill amortisation, interest and tax for the year 2. Audited accounts for the period since acquisition are not yet available 3. Investment in a fund, sales and earnings figures not relevant 4. Results for the period from 4th April, 2006 to 30th June, 2007 5. Results for the period from 9th May, 2006 to 31st December, 2006 6. Excludes results of Linos acquisition 7. Results for the 6 months to 30th September, 2007

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Financial review

Net asset value

As at 31st December, 2007 the net assets attributable to the ordinary shares were £451.3 million, compared to net assets of £328.5 million at 31st December, 2006.

The movement in net assets over the year is mainly due to net realised gains over prior valuation of £65.9 million, a net increase of £55.6 million on the revaluation of investments, reflecting the maturing of our investments alongside the Candover 2001 Fund, plus other movements.

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Net asset bridge analysis (£m)

Net assets per share

As at 31st December, 2007 net assets per share were 2065p compared to 1503p at 31st December, 2006 and 1848p at 30th June, 2007. The increase in net assets over the 12 months to 31st December, 2007 of 37.4% compares with an increase of 2.0% in the FTSE All-Share Index over the same period. The increase in net assets per share over the six months to 31st December, 2007 was 11.7% compared to a decrease in the FTSE All-Share Index over the same period of 3.5%.

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Indexed net asset value per share * 1997-2007

The compound growth in net assets per share on a five and ten year basis was 21.3% and 14.5% respectively, compared to increases in the FTSE All-Share Index of 11.7% and 3.1% respectively over the same period.

Profits before tax

Profits before tax for the year were £21.0 million, compared with £20.6 million for the 12 months to 31st December, 2006. The slight increase in profit was mainly due to increased income from investments and reduced expenses, partly offset by lower income on cash following the return of cash during 2006, and the reduction in management fees arising due to realisations from the Candover 2001 Fund.

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Valuation of investments

The valuation of financial investments at 31st December, 2007 was £344.9 million (2006: £295.3 million). This valuation of £344.9 million was calculated having taken into account realisations net of new investments amounting to £6.0 million, and a net increase of £55.6 million in the valuation of our investments.

The net increase in the valuation of our investments comprised upward movements of £52.8 million and downward adjustments of £13.9 million, with gains from FX movements on the portfolio since 30th June, 2007 of £16.7 million. The increase in valuations reflects the maturing of the investments alongside the Candover 2001 Fund, which have shown growth in profitability since acquisition, with the average age of investments alongside that fund now 46 months. Due to the increased value of the investments in the Candover 2001 Fund, we have further increased the value of the in that fund by £12.5 million during the year.

Investment bridge analysis (£m)

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Net cash position

Cash and cash equivalents, net of loans of £126.1 million, totalled £114.2 million (2006: £29.7 million) at the year-end, representing 25.3% of our net assets (2006: 9.0%). This increase was mainly due to successful realisations during the year including the impact on cash flow from operating activities of receipts on loan stock interest from disposal or refinancings.

Listed shares at the year-end totalled £24.6 million (2006: £11.3 million), representing 5.4% of our net assets (2006: 3.4%).

Dividends At the half year the Board increased the interim dividend by 11.1% from 18.0p per share to 20.0p per share. The Board is recommending a final dividend of 40.0p per share (36.0p per share for 2006), making a dividend payable for the year of 60.0p per share against 54.0p for the previous year, an increase of 11.1%.

Payment of the dividend will be made on 22nd May, 2008 to shareholders on the register at 25th April, 2008.

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Group income statement for the year ended 31st December, 2007 Unaudited

Year to 31st December, 2007 Year to 31st December, 2006 Revenue Capital Total* Revenue Capital Total* £000 £000 £000 £000 £000 £000 Gains on financial investments and cash equivalents at fair value through profit and loss Realised gains and losses – 70,012 70,012 – 14,249 14,249 Unrealised gains and losses – 64,292 64,292 – 38,029 38,029 – 134,304 134,304 – 52,278 52,278

Revenue Management fees from managed funds 37,400 – 37,400 39,454 – 39,454 Investment and other income 21,888 – 21,888 21,007 – 21,007 59,288 – 59,288 60,461 – 60,461

Administrative expenses (37,920) (9,339) (47,259) (39,841) (8,315) (48,156) Profit before finance costs and 21,368 124,965 146,333 20,620 43,963 64,583 taxation

Finance costs (369) (1,984) (2,353) (12) (222) (234) Movement in the fair value of – (1,989) (1,989) – – – derivatives Exchange movements on borrowings – (3,567) (3,567) – – – Profit before taxation 20,999 117,425 138,424 20,608 43,741 64,349

Taxation (6,880) 3,397 (3,483) (6,231) 2,560 (3,671) Profit attributable to equity 14,119 120,822 134,941 14,377 46,301 60,678 shareholders

Earnings per ordinary share Basic 64.6p 552.8p 617.4p 65.8p 211.8p 277.6p Diluted 64.5p 551.9p 616.4p 65.8p 211.8p 277.6p

* The total column represents the income statement under IFRS.

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Statement of recognised income and expenses for the year ended 31st December, 2007 Unaudited

Year to 31st Year to 31st December, December, 2007 2006

£000 £000 Profit attributable to equity shareholders 134,941 60,678 Exchange differences on translation of foreign operations (111) (11) Total recognised income and expenses 134,830 60,667

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Reconciliation of movements in equity for the year ended 31st December, 2007 Unaudited

Year to Year to 31st December, 31st December, 2007 2006

£000 £000 Opening total equity 328,521 380,261 Total recognised income and expenses 134,830 60,667 Return of cash (67) (101,374) Share based payments 271 - Dividends (12,290) (11,033) Closing total equity 451,265 328,521

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Group balance sheet at 31st December, 2007 Unaudited

31st December, 31st December, 2007 2006 £000 £000 £000 £000 Non-current assets Property, plant and equipment 4,146 1,679 Financial investments designated at fair value through profit and loss Investee companies 323,477 284,336 Other financial investments* 21,407 10,927 344,884 295,263 Trade and other receivables - 1,141 Deferred tax asset 4,894 4,737 353,924 302,820 Current assets Trade and other receivables 33,574 29,616 Derivative financial instruments 8,374 - Cash and cash equivalents 240,309 63,437 282,257 93,053 Current liabilities Trade and other payables (49,462) (29,655) Loans and borrowings - (33,735) Derivative financial instruments (7,731) - Current tax liabilities (1,658) (3,962) (58,851) (67,352) Net current assets 223,406 25,701 Total assets less current liabilities 577,330 328,521 Non-current liabilities Loans and borrowings (126,065) - Net assets 451,265 328,521

Equity attributable to equity holders Called up share capital 5,464 5,464 Share premium account 1,232 1,232 Share based payment reserve 271 - Translation reserve (130) (19) Capital redemption reserve 499 499 Capital reserve – realised 326,593 226,894 Capital reserve – unrealised 77,483 56,427 Revenue reserve 39,853 38,024 Total equity 451,265 328,521

Net asset value per share Basic 2065p 1503p Diluted 2048p 1503p

* Other financial investments comprise the company’s valuation of its investments as a special limited partner in managed funds.

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Group cash flow statement for the year ended 31st December, 2007 Unaudited

Year to Year to 31st December, 31st December, 2007 2006 £000 £000 £000 £000 Cash flows from operating activities Cash flow from operations 33,068 12,261 Interest paid (637) (293) Tax paid (5,944) (7,780) Net cash from operating activities 26,487 4,188

Cash flows from investing activities Purchase of property, plant and equipment (3,146) (1,405) Purchase of financial investments (90,485) (96,144) Sale of property, plant and equipment 92 12 Sale of financial investments 162,415 43,756 Net cash from investing activities 68,876 (53,781)

Cash flows from financing activities Equity dividends paid (12,315) (11,008) Return of cash (5,064) (96,367) Loans repayments (33,735) - Advances of loans 119,870 33,735 Net cash from financing activities 68,756 (73,640)

Increase/(decrease) in cash and cash 164,119 (123,233) equivalents

Opening cash and cash equivalents 63,437 189,392 Effect of exchange rates and revaluation on 12,753 (2,722) cash and cash equivalents Closing cash and cash equivalents 240,309 63,437

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Note to the financial statements

The preliminary results for the year ended 31st December, 2007 are unaudited. The financial information included in this statement does not constitute the Group's statutory accounts within the meaning of Section 240 of the Companies Act 1985. Statutory accounts for the year ended 31st December, 2007 will be finalised on the basis of the financial information presented by the directors in this preliminary announcement and will be delivered to the Registrar of Companies in due course.

The information given as comparative figures for the year ended 31st December, 2006 does not constitute the Company's statutory accounts for those financial periods. Statutory accounts for the year ended 31st December, 2006, prepared in accordance with International Financial Reporting Standards as adopted by the European Union, have been reported on by the Company's auditors and delivered to the Registrar of Companies. The report of the auditors was unqualified and did not contain a statement under Section 237(2) or (3) of the Companies Act 1985.

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