Interim Management Statement

RNS Number : 9283L

Oryx International Growth Fund Ld

08 August 2011

ORYX INTERNATIONAL GROWTH FUND LIMITED

8 August 2011

INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 30 JUNE 2011

Oryx International Growth Fund Limited ("Oryx" or the "Company"), is publishing this Interim Management Statement in accordance with DTR 4.3 of the FSA Handbook.

This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 April 2011 to 30 June 2011, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

Manager's Review

Markets drifted for the majority of the period under review with the FTSE Small Cap TR Index up 0.7% and the FTSE All-Share TR Index (£) down 0.9%. It is pleasing to report that against this backdrop the net asset value rose by 8.8% to 296p per share. The increase in the portfolio was broadly based, although there was no movement in the value of the unquoted portfolio. Whilst current market conditions are difficult the manager believes there is inherent value in the portfolio which will be realised in the next quarter.

Material Transactions
Since 1 April 2011 the Company has purchased for cancellation the following shares:

15 April 2011 a total of 250,000 ordinary shares at a gross price of £2.30 per share.
27 May 2011 a total of 170,000 ordinary shares at a gross price of £2.30 per share.

Material Events
There were no material events during the quarter ended 30 June 2011.

Report and Accounts
On 30 June 2011, the Company posted its Annual Report for the year ended 31 March 2011 to Shareholders together with a circular containing the Notice convening the Company's AGM at 11am on 12 August 2011 and details of a proposed waiver of the Rule 9 provisions of the City Code on Takeovers and Mergers.

Financial Highlights

	30 June 2011	31 March 2011	31 December 2010	30 June 2010

NAV	£2.96	£2.72	£2.81	£2.35

US Dollar / Sterling Exchange Rate	1.6055	1.6029	1.5657	1.4961

Twenty Largest Equity Investments at 30 June 2011

	% Net Assets

RPC Group Plc	7.60
CVS Group Plc	7.01
Guinness Peat Group Plc	6.72
BBA Aviation Plc	6.38
Gleeson (M.J.) Group Plc	6.11
Augean	5.34
Orthoproducts Ltd	4.68
Quarto Group Inc	4.54
GTL Resources Plc	4.19
Bavaria Industriekapital AG	4.02
Idox Plc	3.92
Sinclair Pharma Plc	3.51
Innovation Group Plc	3.39
Catalyst Media Group Plc	3.38
Redhall Group Plc	3.21
Journey Group Plc	2.99
Nastor Inv Ltd Zero Redeem Prefer Shares	2.38
Bionostics Holdings Ltd	2.19
Green Co2 Plc	2.13
Celsis AG	1.64

	85.33