Director's Shareholding

Dolphin Capital Investors Limited
13 December 2007

13 December 2007


                       DOLPHIN CAPITAL INVESTORS LIMITED

                            Director's Shareholding

The board of Dolphin Capital Investors Limited (the 'Company') received
notification on 12 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          14,299,300     12.12.2007   600,000    130   Common   14,899,300    6,561,975     6,786,975
Kambourides                                   (A)           shares of         (B)           (C)          (C)
                                                     pence   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 11,700,000 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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