Press Release - DocMorris

HG Capital Trust PLC
21 October 2004


The following text is taken from a press release issued by HgCapital, manager of
the investment portfolio of HgCapital Trust plc.  The trust, which participates
in all of HgCapital's investments, has invested €5 million in DocMorris.  Funds
will be drawn down in November.



        HgCapital to acquire 46% stake in mail-order pharmacy, DocMorris


London, 20 October 2004.   HgCapital, the leading sector-focused European
private equity investor, has agreed to acquire a 46% stake in Dutch mail order
pharmacy, DocMorris.  The transaction, which is subject to merger clearance, is
expected to complete in November 2004.  Current investors, including DocMorris
founder, Dr. Neuhaus, and 3i plc, will retain a substantial shareholding.

Founded in 2000, Doc Morris has grown to become the largest pharmacy serving the
German market, with over 500,000 customers.  It offers prescription drugs at
attractive prices by sourcing direct from pharmaceutical manufacturers, enabling
patients and health insurers to save money.  Customers can order by mail, fax,
telephone or on the internet.

Lindsay Dibden, head of the HgCapital healthcare team, said, 'DocMorris has a
leading market position and excellent growth prospects.  Led by an exceptional
management team, the company is well-positioned to capture a significant share
of the fast-growing pharmaceutical mail-order market.

'This is HgCapital's second investment within the German healthcare market and
the fifth in the Germany over the last two years.  It is an exciting opportunity
and underlines our sector-focused strategy.'

Ralf Dainghaus, CEO, DocMorris, said, 'As the first mover in the mail-order
pharmacy market, we have built an excellent market position.  With a new,
experienced investor on board, we are well-equipped to continue our rapid
growth.'

HgCapital was advised by Sal.Oppenheim, Koln.  DocMorris and its shareholders
were advised by Dr. Ferber & Partner GmbH, Munich.


21 October 2004


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