Director's Shareholding

Dolphin Capital Investors Limited
10 December 2007

10 December 2007


                       DOLPHIN CAPITAL INVESTORS LIMITED

                            Director's Shareholding

The board of Dolphin Capital Investors Limited (the 'Company') received
notification on 7 December 2007 that Miltos Kambourides' indirect interest in
the Company has changed as follows:

 PDMR          Total number    Date of     Purchase   Price   Class of Total number  Total number  Total number
                 of shares   transaction  of shares    per     shares    of shares     of shares     of shares
                controlled                            share             controlled    indirectly    indirectly
                  before                                                 following   owned  before    owned
               notification                                            notification  notification    following
                                                                                                   notification
Miltos         11,149,300     07.12.2007  1,900,000  127.9343  Common  13,049,300    5,380,725 (C) 6,093,225
Kambourides                                  (A)               shares          (B)                        (C)
                                                      pence        of
                                                              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, held as a result of Mr. Kambourides holding (1) a 75%
shareholding in Dolphin Capital Holdings Limited,  which holds 3,199,300 common
shares. 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 9,850,000 common shares.

(C) 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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