Announcement of Results

HgCapital Trust plc                              

          Announcement of Results for the year ended 31 December 2009          

London, 5 March 2010: HgCapital Trust plc (or "the Trust"), which provides
investors with a listed vehicle to invest in all private equity deals managed
by HgCapital, today announces its results for the year ended 31 December 2009.

Financial highlights of 2009

  * NAV per share rises to 937.2p at 31 December 2009 (2008: 929.4p).
   
  * Total return (NAV plus dividend) of 3.6%.
   
  * Ten year total return to shareholders (share price plus dividend) of 14%
    per annum versus 2% per annum from the FTSE All-Share Index.
   
  * 37% of net assets available in liquid funds ready for deployment.
   
  * Average annual EBITDA growth of 18% of the Trust's top 10 investments over
    the last 12 months.
   
Financial highlights of 2010

  * Dividend maintained at 25p per share and 100% designated as a distribution
    of interest (ex-dividend 24 February 2010).
   
  * The sale of Hoseasons completed in February 2010 realising proceeds of £5.1
    million at a multiple in excess of 2.0x the book value of the investment at
    31 December 2009 (uplift to NAV of 10.4p) and  achieving a multiple of 2.3x
    original cost.
   
  * NAV per share at 28 February 2010 of 926.6p and 39% of net assets in liquid
    funds following the above.
   
Operational Highlights

  * Despite a challenging economic environment, trading in the unlisted
    portfolio has remained robust. The portfolio appreciated in value by £5.8
    million (2008: £35.1 million decline) and realised gains over book value
    were £0.5 million (2008: £35.8 million). Gross revenue was £9.7 million
    (2008: £12.1 million).
   
  * Invested £22.3 million in the buyout of businesses which are expected to
    perform across economic cycles: Goldshield (UK, £11.3 million) and Epyx
    (UK, £5.9 million).
   
  * Invested £7.6 million in four solar photovoltaic fields and one wind farm,
    through Hg Renewable Power Partners.
   
  * The Company was chosen, for the fifth consecutive year, as Private Equity
    Investment Trust of the Year in the `Investment Week' awards. The citation
    for the award referred to the Company's outstanding long-term performance
    and its high standards of governance.
   
Prospects

  * The market correction of 2008 marked the end of a long and benign period
    for investment. The Board and the Manager are united in believing that the
    recession of 2009 will be seen as the starting point for a new phase of
    investment at more attractive prices.
   
  * The Company is committed to invest £280 million alongside HgCapital's new
    fund, HgCapital 6. This Board believes this substantial investment will
    enable the Company to take full advantage of the opportunities that are now
    opening up.
   
  * The Board has announced that it is considering raising additional equity
    capital by means of a placing and offer of new ordinary shares, with
    subscription shares attached, combined with a bonus issue of subscription
    shares to existing shareholders.
   
Roger Mountford, Chairman of the Trust, commented:

"Following the dramatic events in financial markets in 2007 and 2008, last year
was a quieter one in the private equity sector. Market conditions for the sale
of private equity investments were poor, especially for the onward sale of
businesses to other private equity buyers. In previous years, our Manager,
HgCapital, had wisely pursued a policy of realising investments not only to
capture strong valuations but also to be positioned with cash for reinvestment.

"Now, as we enter a new stage in the economic cycle,we expect the Trust to
participate in a growing stream of investments over the next three to four
years as the economy gradually recovers, which should in turn lead to an
improved market for realisations.

"Shares in HgCapital Trust continue to outperform wider industry benchmarks.
With a strong balance sheet and a solid portfolio that has good prospects for
growth, the Company looks forward to acquiring more good businesses at
reasonable prices."

For further details:

HgCapital                                                                    
                                                                             
Ian Armitage (Chairman, HgCapital)     [phone]                   
                                                                             
Roger Mountford (Chairman, HgCapital   [phone]                
Trust plc)                                                                   
Maitland                                                                     
                                                                             
Rowan Brown                            [phone]                   

About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the
London Stock Exchange. The trust gives investors exposure, through a liquid
vehicle, to a portfolio of high-growth private
companies, managed by HgCapital, an experienced and well-resourced private
equity firm with a long-term track record of delivering superior risk-adjusted
returns for its investors.

For further details, see www.hgcapitaltrust.com and www.hgcapital.com