Net Asset Value(s)

STRATEGIC EQUITY CAPITAL PLC

As at the 3rd September 2010 the unaudited net asset value per Ordinary Share,
including current period revenue, was 71.71 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 August and
30th June 2010 respectively.

6th September 2010