Tender Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE 
OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND
  OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME  
                               WOULD BE UNLAWFUL                               

                         STRATEGIC EQUITY CAPITAL PLC                          

   Tender Offer to purchase up to 4 per cent. of the Company's issued share    
                                    capital                                    

4 October 2012

In keeping with the Board's stated intention to exercise its discretion and
implement six-monthly tender offers for up to 4 per cent. of the Shares in
issue (excluding Shares held in treasury), the Company has today published a
circular to Shareholders (the "Circular") setting out the terms and conditions
of the Tender Offer and instructions on how Shareholders may participate in the
Tender Offer, should they wish to do so.

Shareholders (other than Restricted Shareholders) will be able to tender up to
4 per cent. of their holdings as at close of business on the Record Date with
such tenders being satisfied in full. Shareholders will also be able to tender
Shares in excess of their 4 per cent. basic entitlement but such excess tenders
will only be satisfied on a pro rata basis to the extent that other
Shareholders tender less than (or none of) their basic 4 per cent. entitlement.

The Tender Price will be a price equal to the NAV per Share (including
undistributed current period income and deducting the estimated costs of the
Tender Offer) as at close of business on 2 November 2012, less a 10 per cent.
discount.

Expected Timetable

The expected timetable for the Tender Offer is as follows:

                                                                           2012
                                                                               
Latest time and date for receipt of             3.00 p.m. on Friday, 2 November
Tender Forms and TTE Instructions in                                           
CREST for Tender Offer                                                         
                                                                               
Record Date for Tender Offer            Close of business on Friday, 2 November
                                                                               
Tender Price calculated                    As at close of business on Friday, 2
                                                                       November
                                                                               
Result of Tender Offer and Tender Price                     Tuesday, 6 November
announced                                                                      
                                                                               
Payments through CREST made in respect                     Thursday, 8 November
of Shares held in uncertificated form                                          
successfully tendered                                                          
                                                                               
CREST accounts settled in respect of                       Thursday, 8 November
unsold tendered Shares held in                                                 
uncertificated form                                                            
                                                                               
Cheques despatched in respect of Shares                      Friday, 9 November
held in certificated form successfully                                         
tendered                                                                       
                                                                               
Balancing certificates despatched in                      By Friday, 9 November
respect of unsold tendered Share held                                          
in certificated form                                                           

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

A copy of the Circular will shortly be available for inspection on the National
Storage Mechanism at www.hemscott.com/nsm.do

Enquiries:

Capita (Company Secretary)
Tracey Brady 01392 477 513

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 Services 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.