Press Release - Tunstall

HG Capital Trust PLC
27 October 2004




     HgCapital Trust plc realizes £3 million from Tunstall recapitalisation



London, 27 October 2004.  The board of HgCapital Trust plc announces the
realisation of £3 million in cash from its investment in Tunstall Holdings Ltd,
Europe's leading supplier of personal and home reassurance systems.


The realisation, which forms part of an overall realisation by HgCapital, the
investment manager of HgCapital Trust plc, resulted from the repayment of all
Tunstall's accrued loan stock interest, which was enabled by a recapitalisation
of the business following a sustained period of strong trading.


The realisation had already been accounted for in the Trust's net asset value
and therefore has no impact on the dividend to be paid by the company.  It has
facilitated a partial repayment of the Trust's £25 million revolving credit
facility.



27 October 2004


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