Dividend Declaration

During the year ended 31 December 2009 total income from the Company's
investment portfolio together with interest on cash deposits totalled £2.6m
which compares to total income received last year of £2.8m. In addition, in
2009 the Company recovered VAT on past management fees (including interest) of
£0.6m, and £0.3m of this amount has been allocated to revenue.

The tender and matching purchase facility completed in December 2009 has
resulted in a reduction in the number of Ordinary shares in issue which has
increased the earnings per share in the final quarter of 2009. This, together
with the VAT recovery, has enabled the Board to pay a special dividend of 1.70p
(2009: nil) per Ordinary share as part of the fourth interim dividend for the
year ended 31 December 2009 in addition to the base dividend of 3.20p (2009:
2.85p) per Ordinary share making a total of 4.90p per Ordinary share. This
dividend will be paid on 31 March 2010 to shareholders on the register at
the close of business on 12 March 2010. The shares will be marked
ex-dividend on 10th of March 2010.

This means total dividends paid in respect of the year ended 31 December 2009
will be 7.70p per Ordinary share plus the special dividend of 1.70p (2009: nil)
per Ordinary share making a total of 9.40p (2008: 7.35p). This represents an
increase in the base dividend of 4.8%.

1 March 2010