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                                    

5 April 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 deducting the estimated costs of the
Tender Offer) as at close of business on 3 May 2013, less a 10 per cent.
discount.

Expected Timetable

The expected timetable for the Tender Offer is as follows:

                                                                                                      2013
                                                                               
Latest time and date for receipt of Tender Forms and                            3.00 p.m. on Friday, 3 May
TTE Instructions in CREST for Tender Offer                                                         
                                          
Record Date for Tender Offer                                            Close of business on Friday, 3 May
                                                                               
Tender Price calculated                                           As at close of business on Friday, 3 May
                                                                               
Result of Tender Offer and Tender Price announced                                         Wednesday, 8 May
                                                                               
Payments through CREST made in respect of Shares                                            Friday, 10 May
held in uncertificated form successfully tendered                                                          
                                         
CREST accounts settled in respect of unsold tendered                                        Friday, 10 May
Shares held in uncertificated form                                                   
                                                                                                               
Cheques despatched in respect of Shares held in                                             Monday, 13 May
certificated form successfully tendered                                              
                                                                  
Balancing certificates despatched in respect of                                          By Monday, 13 May
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.morningstar.co.uk/uk/NSM


Enquiries:

Capita (Company Secretary)
Karen Gale                          01392 477 652

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.