Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 1st October 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 80.47 pence.

Note: Investments in unquoted investment funds are generally held at the
valuations provided by the managers of those funds. The latest valuation for
Strategic Recovery Fund II as at 30th September 2010 and Vintage 1 Limited as
at the 31st August 2010 are both included.

4th October 2010