Issue of Equity

Symphony International Holdings Ltd
31 July 2007



Symphony International Holdings Limited announces successful fundraising and IPO
on the London Stock Exchange

Symphony International Holdings Limited (the 'Company'), an investment company
registered in the BVI, has today placed 190.0 million new shares at a price of
US$1.00 per share with new investors.  In addition the investment manager
contributed $10.0 million taking the total new money raised to $200.0 million.

 New investors in the Company will receive one warrant exercisable at a price of
US$1.25 per share for every five ordinary shares subscribed in the issue.
Following the placing, the Company will have 338.3 million ordinary shares and
108.6 million warrants outstanding.

As a BVI company, the Company's shares and warrants will be traded as Crest
Depositary Instruments on the London Stock Exchange to facilitate settlement
through the Crest system.

Application has been made to the UK Listing Authority for Secondary Listing, and
to the London Stock Exchange for Admission to trading, for depositary interests
representing all of the issued ordinary shares and depositary interests
representing all of the warrants of the Company.



Contact:

Sunil Chandiramani           Director, SIHL         Office: [phone]



The contents of this announcement have been prepared by and are the sole
responsibility of the Company.

Merrill Lynch International and its affiliates are acting exclusively for the
Company and no one else in connection with the listing and offering (the
'Offering') of the Shares and the Warrants (the 'Securities') and will not be
responsible to anyone other than the Company for providing the protections
afforded to their clients nor for providing advice in relation to the Offering.

This announcement is not for release, publication or distribution in or into the
United States, Australia, Canada or Japan or any jurisdiction where such
announcement would be unlawful.

This announcement is not an offer for sale of securities in any jurisdiction,
including the United States.  Securities may not be offered or sold in the
United States absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended (the 'Securities Act').  The Company has
not registered, and does not intend to register, any portion of the Offering in
the United States, and does not intend to conduct a public offering of
Securities in the United States.

This announcement is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth
companies, and other persons to whom it may lawfully be communicated, falling
within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and
(iii) above together being referred to as 'relevant persons').  The Securities
are only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire the Securities will be engaged in only with,
relevant persons.  Any person who is not a relevant person should not act or
rely on this announcement or any of its contents.

This document is an advertisement and is not a prospectus for the purposes of
Directive 2003/71/EC (such Directive, together with any applicable implementing
measures in the United Kingdom under such Directive, the 'Prospectus
Directive').  A prospectus prepared pursuant to the Prospectus Directive is
intended to be published, which, when published, can be obtained from the
Company.  Investors should not subscribe for any Securities except on the basis
of information contained in the prospectus.

In any EEA Member State that has implemented the Prospectus Directive, this
communication is only addressed to and is only directed at qualified investors
in that Member State within the meaning of the Prospectus Directive.

This announcement includes statements that are, or may be deemed to be,
'forward-looking statements'. These forward-looking statements can be identified
by the use of forward-looking terminology, including the words 'targets',
'believes', 'expects', 'aims', 'intends', 'will', 'may', 'anticipates', 'would',
'could' or 'should' or similar expressions or, in each case, their negative or
other variations or by discussion of strategies, plans, objectives, goals,
future events or intentions.  These forward-looking statements all include
matters that are not historical facts.  By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other important
factors beyond the Company's control that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements.  These forward-looking statements speak only as at
the date of this announcement.  Subject to any obligations under the listing
rules of the UK Financial Services Authority following admission to listing on
the Official List and to trading on the London Stock Exchange, the Company
expressly disclaims any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statements contained herein to reflect any
change in the Company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements are based,
except as required by law.




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