Sale of Castlebeck

HG Capital Trust PLC
06 July 2006

                              HgCapital Trust plc

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.

On completion of the sale of Castlebeck, HgCapital Trust plc, a listed
investment trust giving investors the opportunity to participate in all of
HgCapital's investments, will realise a total of £23.1 million. The impact of
the realisation on the net asset value of HgCapital Trust plc would be an
increase of approximately 72p per share over the published 31st May 2006 net
asset value.


                   HgCapital sells Castlebeck for £255 million

London, 6th July 2006. HgCapital, the European sector-focused private equity
investor, today announced the sale of Castlebeck to Castle Holdings Limited, a
Jersey-registered company associated with Barchester Healthcare group, the
leading quality private healthcare provider.

Castlebeck is the UK's leading independent provider of specialist healthcare and
rehabilitation services for adults and adolescents with learning disabilities
and challenging behaviour. It operates 17 specialist hospitals and care homes
across England and Scotland.

HgCapital recognized the potential of this type of residential patient care when
it completed the secondary buy-out of Castlebeck from 3i in July 2002. Following
the recruitment of a new senior management team led by David Cole, an ambitious
investment programme has been undertaken:

• More than £30m has been invested in new hospital facilities across the
  UK

• Nearly 100 additional beds have been commissioned which meet the very
  best care standards

• A pioneering service for adults with autism and challenging behaviour
  has been established

• Three homes for young people have been opened under the Young
  Foundations brand

• Standards of clinical care have been strengthened by investing in a team
  of 15 psychiatrists and psychologists

The company is continuing with its expansion plans to meet the needs of patients
and healthcare providers across the UK and has a pipeline of properties in
development.

The sale of Castlebeck is HgCapital's fifth healthcare transaction in under 18
months totalling over £1 billion. It further demonstrates the leading expertise
HgCapital has developed through its sector-specialist approach to private
equity.

Lindsay Dibden, Partner of HgCapital and Head of the Healthcare team commented:

'Castlebeck demonstrates what is possible when you consolidate ten years of
sector knowledge with a culture of hard work and a talented management team.
This combination has delivered five fold value growth under our ownership. We
are selling a very strong business to Castle Holdings which has expressed its
commitment to enhancing the high quality of specialist services provided and
supporting the existing management in their next phase of growth.'

The sale of Castlebeck follows the recent £322 million acquisition of Paragon
Healthcare, the leading provider of speciality community-based residential care
for people with learning disabilities and the sale of PBR to PRA International
for £58 million. In addition ClinPhone, another HgCapital investment in the
healthcare sector, also recently completed its successful IPO on the London
Stock Exchange at a value of £94 million.

HgCapital was advised by NM Rothschild (advisory), Linklaters (legal), Deloitte
(financial), PricewaterhouseCoopers (commercial) and GVA Grimley (property).
Management were advised by Walker Morris (legal), Jamieson Corporate Finance
(advisory) and PricewaterhouseCoopers (taxation).

HgCapital's recent transactions in the healthcare sector include:

June 2006:       IPO of ClinPhone - market capitalisation of £94 million

June 2006:       Sale of Pharma Bio-Research BV (PBR) to PRA International for 
                 £58 million

April 2006:      £322 million MBO of Paragon Healthcare

March 2006:      £30 million recapitalisation of Castlebeck

September 2005:  Sale of Tunstall for £220 million

March 2005:      £73 million recapitalisation of Castlebeck


Enquiries

HgCapital
Lindsay Dibden                     [phone]

Maitland
Suzanne Bartch                     [phone]





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