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                                    


3 October 2013


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, 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 subject to approval at the
Company's forthcoming Annual General Meeting) as at close of business on 
8 November 2013, less a 10 per cent. discount.



Expected Timetable

The expected timetable for the Tender Offer is as follows:

                                                                           2013
                                                                               
Annual General Meeting                        11.30 a.m. on Tuesday, 5 November

Latest time and date for receipt of
Tender Forms and TTE Instructions in
CREST for Tender Offer                          3.00 p.m. on Friday, 8 November

Record Date for Tender Offer            Close of business on Friday, 8 November

Tender Price calculated                              As at close of business on
                                                             Friday, 8 November
                                                                               
Result of Tender Offer and Tender Price
announced                                                  Tuesday, 12 November

Payments through CREST made in respect
of Shares held in uncertificated form
successfully tendered                                     Thursday, 14 November
                                                                               
CREST accounts settled in respect of
unsold tendered Shares held in
uncertificated form                                       Thursday, 14 November

Cheques despatched in respect of Shares                     
held in certificated form successfully                      
tendered                                                    Friday, 15 November

Balancing certificates despatched in
respect of unsold tendered Share held
in certificated form                                        Friday, 15 November



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.morningstar.co.uk/uk/NSM


Enquiries:

Capita Sinclair Henderson Limited         (Company Secretary)

Karen Gale                                 01392 477 652


SVG Investment Managers Limited            020 3691 6100

Adam Steiner                               


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.