Annual Report and Accounts

Dolphin Capital Investors Limited
26 March 2007

For immediate release
26 March 2007

           Dolphin Capital Investors Limited ('DCI' or the 'Company')

                            Annual Report & Accounts

Dolphin Capital Investors, a real estate investment company focused on the
Master-planned Residential Resort sector in Southeast Europe and managed by
Dolphin Capital Partners ('DCP'), announces that the 2006 Annual Report and
Accounts have today been sent to shareholders.

The Annual Report and Accounts can also be viewed on the Company's website
www.dolphincapitalinvestors.com.

- ENDS - 

For further information, please contact:
Dolphin Capital Partners Limited
Miltos Kambourides / Pierre Charalambides
[e-mail] / [e-mail]

Grant Thornton Corporate Finance                  Tel: [phone]
Philip Secrett

Panmure Gordon                                    Tel: [phone]
Richard Gray / Dominic Morley / Andrew Potts

Adventis Financial PR                             Tel: [phone]
Annie Evangeli                                    


Notes to Editors
Dolphin Capital Partners
DCP is an independent investment management business founded in 2004 by Miltos
Kambourides and Pierre Charalambides after leaving Soros Real Estate Partners.

The DCP professionals combine extensive local knowledge and contacts with
expertise gained at some of the world's leading financial institutions. They
specialise in providing capital to rigorously selected real estate developments
in Southeast Europe by joint venturing with local developers. For every
development, DCP partners with an international and sophisticated network of
operators, designers, master-planners, marketing agents and financial
institutions.

Dolphin Capital Investors
DCI has closed investments in nine projects, namely Kilada Hills Golf Resort,
Scorpio Bay Resort, Apollo Heights Polo Resort, Amanmila Resort, Lavender Bay
Golf Resort, Sitia Bay Golf Resort, Seascape Hills Resort, Livka Bay Resort and
Rebranded Hotels, committing a total of €272 million in one year since its
Admission to AIM in December 2005.

DCI's investment objective is to provide shareholders with strong capital growth
combined with a low risk profile through investing in early-stage sophisticated
leisure-integrated residential resort developments in Southeast Europe in
partnership with leading developers and operators.


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