Trading Statement

Dolphin Capital Investors Limited
30 December 2005


For release                     07.00am                        30 December 2005



           Dolphin Capital Investors Limited ('DCI' or the 'Company')
                                        
                            Year End Trading Update
                                        

Since the Company's admission to trading on AIM on 8 December 2005 and the 
successful raising of €104 million before expenses, Dolphin Capital Partners, 
the Company's Investment Manager, has continued the process of finalising, on 
behalf of DCI, the contractual arrangements in 6 investment opportunities in 
Greece and Cyprus with related capital commitments in excess of €66 million. 
DCI currently anticipates entering into final and binding agreements in certain 
of these projects early in the new year. Benefiting from the momentum of the 
listing and the strong capitalisation of the Company, Dolphin Capital Partners 
is advancing a number of previous and new pipeline opportunities that are 
expected to also materialise in the new year.


For further information:

Dolphin Capital Investors Limited                     Tel: [phone]
Miltos Kambourides
[e-mail]

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

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

Binns & Co PR                                         Tel: [phone]
(Financial PR)
Peter Binns / Tarquin Edwards / Annie Evangeli



Notes to Editors

Dolphin Capital Partners ('DCP')
DCP is an independent investment management business founded in 2004 by Miltos
Kambourides and Pierre Charalambides after leaving Soros Real Estate Partners.

DCP specialises in providing capital to rigorously selected real estate
developments in Southeast Europe and matching local developers with DCP's
international network of sophisticated operators, designers, master-planners,
marketing agents and financial institutions.

The partners combine extensive local knowledge and contacts with an
international network following expertise gained at some of the world's leading
financial institutions including Soros Real Estate Partners, Goldman Sachs,
JPMorgan, GE Capital and Citibank.

DCP contributed to DCI an attractive prospective investment portfolio and a
strong pipeline of potential projects sourced over the past two years.

The Company is incorporated in the British Virgin Islands and has local offices
in Greece and Cyprus.


                      This information is provided by RNS
            The company news service from the London Stock Exchange