Posting of shareholder circular

LMS CAPITAL PLC

                     POSTING OF SHAREHOLDER CIRCULAR with                      

                         TIMING OF GENERAL MEETING and                          

                       RESOLUTIONS FOR SHAREHOLDER VOTE                        

London, 7 November 2011: LMS Capital plc ("LMS Capital" or the "Company")
announces that, following earlier announcements, a shareholder circular (the
"Circular") with resolutions to be voted on at the Company's forthcoming
General Meeting has today been filed with the UKLA and posted to shareholders.

In summary, the resolutions to be proposed are:

 1. That a revised investment policy with the objective of conducting an
    orderly realisation of the assets of the Company be effected in a manner
    that seeks to achieve a balance between an efficient return of cash to
    shareholders and maximising the value of the Company's investments.
   
 2. That:
   
 
     i. the Company distribute surplus cash periodically to shareholders in a
        tax efficient manner with due regard to shareholders' tax
        circumstances;
       
    ii. the Company manage its affairs such that existing capital commitments
        are ultimately eliminated;
       
    iii. the Company pursue a policy of asset realisation with a view to
        returning capital to members over as short a time period as
        practicable, having due regard to the maximisation of shareholder
        value;
       
    iv. the Company refrain from committing capital to any new investments; and
       
     v. the Board have discretion to make additional investments in existing
        assets in order to protect shareholder value.
       
 3. That Robert Rayne remain on the Board as a director of the Company.
   
Further details of the resolutions are set out in the Circular, together with
the background to and reasons for the general meeting of the Company to be held
on 30 November 2011. The Circular also sets out the recommendations of the
Board that shareholders vote IN FAVOUR of the first and second resolutions and
AGAINST the third resolution to be proposed at the General Meeting.

The General Meeting of the Company will be held at One Vine Street, London, W1J
0AH at 11.00a.m. on 30 November 2011.

The Circular is available in the Investor Relations section of the LMS Capital
website, www.lmscapital.com

In compliance with 9.6.1 of the Listing Rules the Company has submitted to the
UK Listing Authority, via the National Storage Mechanism, copies of the
Circular.

A further announcement will be made following the General Meeting.

                                     ENDS                                      

Enquiries

Quayle Munro:

Andrew Tuckey / Colin La Fontaine Jackson 020 7907 4200

Matrix Corporate Capital LLP:

Paul Fincham / Rob Naylor 020 3206 7175

Brunswick Group:

Simon Sporborg / Fiona Micallef-Eynaud 020 7404 5959

About LMS

Under its current strategy, LMS is an investment company focused on investing
in profitable and growing private companies where our involvement is additive
to the value and performance of the company. Our focus is on small to medium
sized companies in our preferred sectors of consumer, energy and business
services. We partner with experienced managers in profitable, growing companies
where we believe we can add value.