Investment in Apogee Group Limited

30 March 2010

                                LMS Capital plc                                

                      Investment in Apogee Group Limited                       


LMS Capital plc is pleased to announce that it has invested £7.9 million to
acquire a significant minority stake in Apogee Group Limited ("Apogee").   

Apogee is one of the UK's leading independent digital printing solutions
providers and offers sales and servicing of printers, photocopiers and
multi-function devices to a diversified, growing client base. For the financial
year ended 31st December 2008 (the latest financial year for which audited
accounts are available), Apogee had turnover of £28.9 million and profit before
tax of £3.3 million. Unaudited results for the financial year ended 31st
December 2009 indicate that Apogee has continued its growth in sales and
profitability with turnover increasing by 15% to £33.3 million.

Under the terms of the agreement, LMS Capital will provide investment to
support the continued "buy-and-build" acquisition strategy that the company has
successfully implemented in recent years, having acquired 7 companies since
2006. The digital printing solutions market in the UK has grown significantly
over the last 3 years and remains very fragmented. Apogee intends to
consolidate its leading market position through further acquisitions.

Commenting on the transaction Pieter Hooft, LMS Capital Managing Director UK
Investments, said: "We are delighted to have the opportunity to back an
exceptional team with a proven track record of generating profitable
growth.  Our due diligence has confirmed that the company is held in high
regard by customers and key suppliers and is ideally placed to continue to
enhance its position as one of the leading independent resellers in the UK.  We
look forward to supporting the company moving forward." 

Jason Collins and Barry Ferdinand, joint founders and Managing Directors of
Apogee, said: "We are delighted to have the support of LMS Capital as we
continue to develop Apogee as the leading digital solutions provider in the
UK."

For further information please contact:

LMS Capital plc                                          020 7935 3555
Glenn Payne, Chief Executive Officer
Tony Sweet, Chief Financial Officer

Brunswick Group LLP                                      020 7404 5959
Simon Sporborg
Oliver Hughes

Apogee Group Limited                                     020 8971 1806
Jason Collins, Joint Managing Director
Barry Ferdinand, Joint Managing Director

About LMS Capital

LMS Capital plc is an international investment company whose shares are listed
on the London Stock Exchange. The investment portfolio comprises investments
primarily in the US and the UK, with a spread of early stage and second round
technology investments, development capital and mature company buyouts.

www.lmscapital.com

About Apogee

Founded in 1993, Apogee is the UK's leading independent document solutions
specialist, providing innovative all-encompassing, managed print strategies to
businesses throughout the UK. Working with a diverse range of customers, it
offers a unique "blank canvas" approach and seeks to fully understand an
organisation's document work flow, delivering efficiencies and significantly
reducing costs.