Sale of Capital Safety Group

Electra Private Equity PLC
03 May 2007



Electra Private Equity PLC 
Press Release
3 May 2007


Electra announces the sale of Capital Safety Group for $565m

Electra Private Equity PLC ('Electra') is pleased to announce it has entered
into a conditional agreement for the sale of its interest in Capital Safety
Group ('CSG') in a $565m secondary management buyout arranged by Candover
Partners Limited.

On completion of the transaction, Electra will receive net proceeds of US$174m
(circa £87m depending on exchange rate movements) for its investment in CSG,
representing an uplift of circa £62.9m, or 260%, over the valuation of CSG at 30
September 2006. This would give rise to an increase in net asset value of 168p
per share.

Completion of the transaction is conditional upon competition clearance. It is
presently expected that competition clearance decisions will be made within 6
weeks.

In 1998 Electra led the £98.3m buyout of CSG. Under Electra's ownership CSG has
evolved from a business with a regional-based focus into an international
business selling under two global brands, DBI-Sala and Protecta. Today the
company is the world's leading manufacturer of height safety equipment. Its
products are used by workers across a number of sectors such as oil and gas,
telecommunications and construction.

A refinancing was put in place in 2005, with Electra realising £58.3m from which
it reinvested £12.75m in the equity and £5.65m in the mezzanine loan of a new
holding company, Capital Safety Group II. Since 2005 the profitability of the
business has grown considerably.

Based on anticipated net proceeds of £87m Electra will achieve a multiple of
over 5 times its original investment with an IRR over 9 years of 23%.

David Symondson at Electra Partners commented: 'The key aspect of this
investment is the amount of time we have held it, backing the leadership of
CSG's CEO Paul Trinder over the long term. Because of our flexible structure we
have not been obliged to sell the business within a pre-determined timescale.
This has enabled us to benefit from strategic decisions implemented in the early
years. CSG is now of a size whereby it will benefit from a change of shareholder
as it looks to consolidate its position in the personal protection equipment
market.'

Close Brothers acted as sole financial adviser to Electra.


For further information please contact:
David Symondson/Rhian Davies, Electra Partners LLP                 020 7214 4200
Nick Miles, M: Communications                                      020 7153 1535


Notes to Editors

Electra Private Equity PLC (www.electraequity.com)

Electra has specialised in private equity for 30 years achieving investment
returns substantially in excess of the FTSE All-Share Index and returning a
total of £1.2 billion to shareholders through tender offers and on-market share
buybacks since 1999. Since October 2006 Electra has had a revised investment
strategy which returns Electra to full investment of its capital resources in
private equity. Electra, with its differentiated investment approach, has a
strong market position and provides shareholders with a direct and liquid access
to private equity.


Electra Partners LLP (www.electrapartners.com)

Electra Partners is an independent private equity fund manager whose major
client is Electra Private Equity PLC. As at 30 September 2006, it had funds
under management of £800 million. The team at Electra Partners has been
investing and managing the assets of its clients for over 15 years, accumulating
considerable expertise whilst building a strong track record.


NAV Calculation

Electra's net asset value at 31 March 2007 (including its valuation of CSG at
that date) is expected to be announced in early June.





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