Result of EGM

STRATEGIC EQUITY CAPITAL PLC

RESULT OF EXTRAORDINARY GENERAL MEETING

Following the Extraordinary General Meeting held today, the Company is pleased
to announce that shareholders passed the resolution amending the Investment
Policy of the Company, with effect from the conclusion of the meeting, as set
out below:

"The Company will invest primarily in securities quoted on any securities
market operated by the London Stock Exchange that the Manager believes are
undervalued and could benefit from strategic, operational and management
initiatives. The Company will also have the flexibility to invest up to 20 per
cent of the Company's gross assets at the time of investment in securities
listed or traded on other recognised stock exchanges and up to 20 per cent of
the Company's gross assets at the time of investment in unquoted securities and
in any class of debt or equity-related instrument. It is anticipated that the
Company will predominantly invest in securities quoted on the London Stock
Exchange."

23 March 2007