Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

Further to the earlier Net Asset Value announcement which is detailed below,
the Company announces that on 20 April 2010, the Company will receive a
distribution of £699,095 from SRF II and simultaneously pay a call of £699,095
to SRF II. The net cash effect will be zero and the Company's outstanding
undrawn commitment to SRF II will reduce by 23% to £2,367,471.

As at the 16 April 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 73.17 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 both as at the 31 March
2010.

19 April 2010