Tender Offer Price

STRATEGIC EQUITY CAPITAL PLC                          

                              Tender Offer Price                               

12 November 2013

The Board is pleased to announce that the Tender Price is 137.90p per
Share. The Tender Price is the amount equal to the NAV (including undistributed
current period income and, for the avoidance of doubt, dividends declared but
not yet paid shall be deemed to be undistributed and deducting, inter alia, the
estimated costs of the Tender Offer as well as the 1.50p final dividend for the
financial year ending 30 June 2013, payable on 15 November to holders on the
register as at 18 October 2013) per Share at close of business on Friday, 
8 November 2013 less a 10 per cent. discount and has been calculated in
accordance with paragraph 4, Part 3 of the circular to Shareholders dated 
3 October 2013 (the "Circular").

Capitalised terms and expressions shall have the same meanings as those
attributed to them in the Circular.


Enquiries:

Capita (Company Secretary)
Jonathan Carslake                        01392 477506

SVG Investment Managers Limited
Adam Steiner                            020 7010 8900

Canaccord Genuity Limited               020 7523 8000
Andrew Zychowski
Lucy Lewis


Canaccord Genuity Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting for Strategic Equity
Capital plc and is acting for no-one else in connection with the Tender Offer
and will not be responsible to anyone other than Strategic Equity Capital plc
for providing the protections afforded to clients of Canaccord Genuity Limited
nor for providing advice in connection with the contents of this announcement
or any other matter referred to herein. Canaccord Genuity Limited is not
responsible for the contents of this announcement. This does not exclude or
limit any responsibilities which Canaccord Genuity Limited may have under the
Financial Services and Markets Act 2000 or the regulatory regime established
thereunder.