Statement re Refinancing

Leo Capital Plc
08 September 2006



8 September 2006

                 Leo Capital plc ('Leo Capital'/'the Company')

                  REFINANCING OF ENERGY CRANES INTERNATIONAL


Leo Capital is pleased to announce that Energy Cranes International, in which
the Company has a 90% shareholding, has successfully completed a refinancing
agreement with the Royal Bank of Scotland ('RBS'). This agreement consolidates
Energy Cranes' borrowing arrangements under a single £29 million facility, of
which initially £22 million will be drawn.

As a result of this refinancing, Energy Cranes has repaid loans from Leo Capital
of £3.6 million, including accrued interest, and preference dividends of £1.4
million. These amounts will increase Leo Capital's cash balances and will be
used for general corporate purposes. The Company's shareholding in ECI remains
unchanged.

'The new banking facility allows the Energy Cranes board to make important
strategic decisions which will equip the group for future growth,' said Energy
Cranes' Chief Executive Officer, John Jordan. 'We will continue our investment
to expand our skilled workforce, upgrade our North Sea service hub in Aberdeen
and expand our US manufacturing and service base in Houston.'

Robert Rayne, Chief Executive Officer of Leo Capital, said: 'Since its formation
in 2003 Energy Cranes has experienced strong growth and is now operating on 6
continents. For 2006, revenues are expected to be in excess of £90 million with
EBITDA of more than £8 million. The new arrangements agreed with RBS reflect the
success of the business over the last three years and its resulting financial
strength. Going forward the international offshore oil and gas markets continue
to look robust.'


For further information please contact:

Leo Capital plc                           Brunswick

Robert Rayne, CEO                         Simon Sporborg
Tony Sweet, CFO                           Anisha Patel
Tel: [phone]                        Tel: [phone]


Energy Cranes International Limited

John Jordan, CEO

Adrian Bannister, CFO

Tel: [phone]


Notes to Editors

Leo Capital plc is an independent investment company whose shares are traded on
AIM. It was formed to receive the demerged investment division of London
Merchant Securities plc. The investment portfolio comprises investments in both
the US and UK, with a spread of early stage and second round technology
investments, development capital and mature company buy-outs.

Website www.leocapitalplc.com


Energy Cranes International Limited is the world's leading offshore crane and
lifting services contractor supporting the oil and gas industry. With 30 years
experience in offshore crane management and engineering through its Sparrows
Offshore arm, augmented by 25 years experience in pedestal crane manufacture and
maintenance through its American Aero and Titan Cranes brands, it is uniquely
equipped to deliver global lifting solutions. Energy Cranes employs 1,200 people
at 16 locations around the world.

Website www.energycranes.com





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