Acquisition

HG Capital Trust PLC
26 September 2007



The following is the text of a press release issued by HgCapital, which manages
the investment portfolio of HgCapital Trust plc alongside those of other
institutional clients. The Trust, which is a listed investment trust giving
investors the opportunity to participate in all of HgCapital's investments, will
invest approximately €15.6 million (£10.5 million) in FABORY (formally known as
Borstlap 'Masters in Fasteners' Group).


                   HgCapital acquires FABORY for €345 million

Amsterdam, 26 September, 2007: HgCapital, the European sector-focused private
equity investor, has agreed to acquire FABORY from AAC Capital Partners
(formerly ABN AMRO Capital) for a consideration of €345 million.

FABORY, formally known as Borstlap 'Masters in Fasteners' Group, was founded in
1947 and is headquartered in Tilburg in the South of The Netherlands. It is the
leading distributor of industrial fasteners such as bolts, nuts, screws, pins
and nails in the Benelux region. The company also distributes chemical fasteners
(tape, adhesives, sealants) and power tools. It has operations in France,
Central and Eastern Europe, Germany, North America and China. Overall, the
company operates in 14 countries with 1,800 employees. Worldwide more than
120,000 customers are serviced in over 20 territories, with currently a majority
of sales in the Benelux region. Its FABORY Centres (FCs) - a
business-to-business convenience retail concept specialising in fasteners - give
the company a unique market position, offering the repair and maintenance
professional unparalleled choice and service.

FABORY has enjoyed strong growth in recent years under AAC ownership, expanding
the number of FCs from 50 to 89 and transitioning successfully from a
family-owned business to institutional ownership. HgCapital will support the
management team in implementing an aggressive roll-out of further FCs with a
focus on expansion into the high-growth markets of Central and Eastern Europe.

This will be the fifth investment in the Benelux region for HgCapital, which
opened a local office in Amsterdam two years ago and, as a specialised
value-added services provider, FABORY will form part of HgCapital's Business
Services portfolio. The deal follows on from the acquisition of Mondo Minerals
earlier this month and brings the number of transactions HgCapital has conducted
since the end of June to six.

Financing for the transaction was provided by Bank of Scotland.

Alex Shivananda, Managing Director of HgCapital Benelux, said:

'We have been following the progress of FABORY closely for nearly four years.
Alfons, the CEO, and his team have performed very well in professionalising and
repositioning the business and we couldn't fail to be impressed. Accordingly we
are willing to pay a good price for a great business. With our pan-European
coverage and local presence we are well-positioned to support FABORY's exciting
plans for geographical expansion'.

Alfons van der Aa, Chief Executive of FABORY, commented:

'Over the last years we streamlined the business and re-positioned the company
with a highly scalable and successful B2B convenience retail concept. We are
looking forward to taking the company to the next level with the full support of
HgCapital'.


The transaction is subject to works council consultation and the relevant
competition authorities' clearance procedures. HgCapital is in advanced
negotiations on the acquisition and the parties expect to close the transaction
in the next month.

Contacts:
HgCapital
Alex Shivananda                                    Tel: [phone]

Maitland
Suzanne Bartch                                     Tel: [phone]

Financial Dynamics (For AAC Capital Partners)
Fergus Wheeler/Lucy Kelly                          Tel: [phone]

HgCapital was advised by:
Financial & tax    Deloitte
Legal              Linklaters
Commercial         OC&C Strategy Consultants
Corporate Finance  NIBC Corporate Finance

About HgCapital

HgCapital is a private-equity investor in the European mid-market. We focus on
investments with an enterprise value in the range of €75-500 million. Our
business model combines sector specialisation with dedicated, pro-active support
to our portfolio companies as well as the corresponding management expertise
across all phases of the investment process. HgCapital manages more than €2.7
billion for some of the world's leading institutional and private investors. Our
goal is to achieve outstanding results for our investors, management team and
intermediaries.

Further information on HgCapital can be found at www.hgcapital.com.



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