Statement re Non-mainstream investment products

Non-mainstream investment products

The Board confirms that the Company currently conducts its affairs so that its
Ordinary Shares (the "Shares") can be recommended by independent financial
advisers to retail private investors in accordance with the Financial Conduct 
Authority's ("FCA") rules in relation to non-mainstream investment products and 
intends to continue to do so for the foreseeable future.

The Shares are excluded from the FCA's restrictions which apply to
non-mainstream investment products because they are shares in a UK-listed
investment trust.