Director/PDMR Shareholding

Dolphin Capital Investors Limited
27 March 2008

27 March 2008


                       DOLPHIN CAPITAL INVESTORS LIMITED

                            Director's Shareholding

The board of Dolphin Capital Investors Limited (the 'Company') received
notification on 26 March 2008 that Miltos Kambourides' indirect interest in the
Company has changed as follows:


 PDMR          Total number    Date of   Purchase Price  Exersise  Class of Total number  Total number  Total number
                 of shares   transaction    of     per      of      shares    of shares     of shares     of shares
                controlled               shares   share  warrants            controlled    indirectly    indirectly
                  before                                                      following   owned  before    owned
               notification                                                 notification  notification    following
                                                                                                        notification
Miltos         43,404,300    26.03.2008  600,000   132  31,535,149  Common  75,539,449    17,476,350    41,352,712
Kambourides                                (A)                      shares          (C)                         (D)
                                                  pence    (B)        of                            (D)
                                                                   EUR0.01

Notes:

(A)  indirect interest, acquired as a result of Mr. Kambourides holding a 37.5% 
shareholding in Silver Capital Holdings Limited.


(B) indirect interest, acquired as a result of Mr. Kambourides holding a 75%
shareholding in Dolphin Capital Holdings Limited who in turn is the holding
Company of Dolphin Capital Participations Limited. Investment Manager exercised
its rights to 31,535,149 new common shares of €0.01 each in the capital of the
Company and such shares were issued and allotted to Dolphin Capital
Participations Limited.

(C) indirect interest, held as a result of Mr. Kambourides holding (1) a 75%
shareholding in Dolphin Capital Holdings Limited,  which holds 34,734,449 common
shares (including the shares owned by the 100% subsidiary, Dolphin Capital
Participations Limited). Dolphin Capital Holdings Limited is the holding company
of Dolphin Capital Partners Limited and (2) a 37.5% shareholding in Silver
Capital Holdings Limited, which holds 40,805,000 common shares.


(D) the resulting pro rata interest for Mr. Kambourides resulting from his
interest in the companies that hold the common shares.

For further information, please contact:

Dolphin Capital Partners Limited
Miltos Kambourides / Pierre Charalambides
[e-mail] / [e-mail]

Grant Thornton Corporate Finance                       Tel: [phone]
(Nominated Adviser)
Philip Secrett

Panmure Gordon                                         Tel: [phone]
(Broker)
Richard Gray / Dominic Morley / Andrew Potts

Financial Dynamics                                     Tel: [phone]
Stephanie Highett / Nicole Marino


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