Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 5th March 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 68.83 pence.

Note: Investments in unquoted investment funds are generally held at the
valuations provided by the managers of those funds. The latest valuations for
Strategic Recovery Fund II and Vintage 1 Limited are as at the 31st January
2010 and 30th November 2009 respectively.

8th March 2010