Disposal

HG Capital Trust PLC
29 January 2008




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 sale of The Sanctuary Spa, HgCapital Trust plc, a
listed investment trust giving investors the opportunity to participate in all
of HgCapital's investments, realises a total of £22.4 million. The impact of the
realisation on the net asset value of HgCapital Trust plc equates to an increase
of approximately 48p per share over the published 30 November 2007 net asset
value of 920p (which has since increased by 20p following the completion of the
sale of Hofmann Menu).


     HgCapital sells The Sanctuary Spa Group to PZ Cussons for £75 million


London, 29th January 2008: HgCapital, the European sector-focused private equity
investor, announces the sale of The Sanctuary Spa Group to PZ Cussons, the
consumer products group, for £75 million. This is the seventh transaction by
HgCapital since August 2007.


The Sanctuary Spa is the leading female body care brand in the UK. The company
also operates The Sanctuary Spa in Covent Garden, which serves over 64,000
guests per annum. Since acquiring the products business in 2005, The Sanctuary
Spa management team has grown the brand dramatically, with the introduction of
new product lines and successful expansion into international markets,
particularly the US and the Far East. The company experienced strong trading
over the key Christmas period. For the period September 1st to December 31st
2007, retail sales increased by 11%.


Richard Mathews, Head of Consumer and Leisure at HgCapital, commented:


'This is another example of HgCapital investing in a strong brand and a great
management team. Alice and her team have done a fantastic job of building this
much-loved brand into a household name, growing the business through the
introduction of new product categories and successfully expanding
internationally. The Sanctuary Spa has excellent prospects for further growth
and we wish everyone at the company well for the future.


The successful sale of The Sanctuary Spa demonstrates the effectiveness of
HgCapital's strategy of deep sector focus and active partnership with our
portfolio businesses. This, together with our high levels of resourcing, can
deliver strong returns throughout the whole economic cycle.'


Since April 2007, HgCapital has made five acquisitions, as well as eight sales
of portfolio companies to private equity and trade buyers yielding 3.0x original
cost and an IRR of approximately 50%.


Alice Avis, Chief Executive of The Sanctuary Spa commented:


'We are delighted with how the business has developed and grown in recent years.
The iconic spa in Covent Garden underpins our brand authority and has enabled us
to develop the products business into one of the UK's leading body care brands.
We have also expanded the business into international markets, with particular
success in the US, where sales grew by eighty per cent over the Christmas
period. Despite more challenging consumer trading conditions, we had another
successful Christmas, with sales increasing by over ten per cent. PZ Cussons has
an excellent reputation in the industry and we look forward to working with them
to develop The Sanctuary Spa further, both in the UK and internationally.'


Close Brothers Corporate Finance Limited is acting as the sole financial advisor
to HgCapital in relation to the transaction.



Contact details:


HgCapital
Richard Mathews                                              Tel: [phone]


The Sanctuary Spa Group 
Alice Avis                                                   Tel: [phone]


Tulchan Communications
Andrew Honnor                                                Tel: [phone]



Notes to Editors


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 €75-750 million. Our
business model combines sector specialisation with dedicated, proactive support
to our portfolio companies and 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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