Director/PDMR Shareholding

Alpha Pyrenees Trust Limited
10 July 2006


For publication in the United Kingdom only. Not for release, publication or
distribution in or into any other jurisdiction including the United States,
Canada, Australia, South Africa, the Republic of Ireland or Japan.



10 July 2006



Alpha Pyrenees Trust Limited ('Alpha Pyrenees' or the 'Company')

Notification of transactions by persons discharging managerial responsibilities
and their connected persons



In accordance with Rule 3.1.2 of the UK Listing Authority disclosure rules,
Alpha Pyrenees has today received notification from Phillip Rose, a director of
the Company, that as at today's date, he has become interested in a further
1,490,000 ordinary shares  representing 1.17% of the issued share capital of the
Company. This notification arises as a result of the allotment to Alpha Real
Capital Singapore PTE. Ltd ('Alpha Real Capital Singapore') of 1,490,000
ordinary shares at a subscription price of 100p per ordinary share.  Alpha Real
Capital Singapore is a person connected with Phillip Rose by virtue of his
membership of Alpha Real Capital LLP, the parent undertaking of Alpha Real
Capital Singapore and the Company's investment manager. The allotment of such
shares is further to the Company's announcement on 30 June 2006.



Phillip Rose already holds 250,000 ordinary shares representing 0.20% of the
issued share capital of the Company.  Accordingly, in aggregate, direct such
interests represent 1.36% of the issued share capital of the Company.



For further information please contact:

Phillip Rose, CEO, Alpha Real Capital                           020 7591 1609






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