Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 8 October 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 82.89 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 the 30 September 2010 and Vintage 1 Limited as
at 31 August 2010 are both included.

11 October 2010