Acquisition

HG Capital Trust PLC
29 March 2006


The following is the text from a press release issued by HgCapital, which
manages the investment portfolio of HgCapital Trust plc alongside those of other
clients. The trust, which participates in all of HgCapital's investments, will
initially invest approximately £12 million in First Technology Safety &
Analysis.

  HgCapital agrees to acquire leading player in the design and manufacture of
                         intelligent crash test dummies

London, 29 March 2006. HgCapital, the European sector focused private equity
investor, has entered into an agreement with Honeywell to acquire First
Technology Safety & Analysis ('FTSA') - a market leader in crash test dummies
and associated services - for a consideration of £50 million. The acquisition is
conditional upon, inter alia, approval from regulatory authorities.

FTSA, the Safety & Analysis division of First Technology plc, is a leading
player in the design and manufacture of intelligent crash dummies, crash walls
and instrumentation. It also manufacturers load cell products and strain gauge
services, primarily for the automotive industry. It operates in an attractive
niche segment with growth driven by ever more stringent legislative
requirements, increased awareness of safety issues, and higher crash testing
demands on Tier 1 suppliers and automotive OEMs.

FTSA reported sales of US$48 million in the year ended 30 April 2005 split
evenly between Europe, Asia and the US. FTSA has long held customer
relationships with every automotive OEM, most Tier 1 suppliers, independent
testing authorities, insurance companies and key regulatory bodies.

The provision of services and products to the crash test industry in general is
highly fragmented. HgCapital will work with existing FTSA management to continue
to grow the business.

HgCapital was advised by Hawkpoint, Lovells and KPMG Transaction Services.

Trevor Bayley, Partner at HgCapital commented:
'We are acquiring an excellent business, with a strong and experienced
management team, in a market which continues to grow ahead of GDP. FTSA is a
market leader and has a strong record of innovation and close relationships with
influencers and customers around the globe. We are excited about the potential
of the business and look forward to working with management to capitalise
further on the forthcoming legislative developments.'

Enquiries

HgCapital
Trevor Bayley                     [phone]

Maitland

Suzanne Bartch                    [phone]
Peter Ogden






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