Annual Report and Accounts

STRATEGIC EQUITY CAPITAL PLC

Annual Report and Accounts for the period ended 30 June 2006

A copy of the above documents has been submitted to the UK Listing Authority
and is available for inspection at the UK Listing Authority's Document Viewing
Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Tel no: 020 7676 1000