Tender Offer Price

8 May 2012                                   

                         STRATEGIC EQUITY CAPITAL PLC                          

                              TENDER OFFER PRICE                               

Further to the announcement of the result of the Tender Offer made earlier
today, the Board announces that the Tender Price, which has been calculated in
accordance with paragraph 4 of Part 3 of the circular to Shareholders dated 
30 March 2012 (the "Circular"), is 95.81p per Share.

Enquiries

Sue Inglis/           Canaccord Genuity Limited                T: 020 7050 6779
Gordon Neilly                                                  T: 020 7050 6778
                                                                               
Adam Steiner          SVG Investment Managers Limited          T: 020 7050 8900

Notes

Words and expressions defined in the Circular have the same meanings when used
in this announcement.