Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 27th August 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 70.68 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 July and
30th June 2010 respectively.

31st August 2010