Director/PDMR Shareholding

Alpha Pyrenees Trust Limited
10 July 2006


For publication in the United Kingdom only. Not for release, publication or
distribution in or into any other jurisdiction including the United States,
Canada, Australia, South Africa, the Republic of Ireland or Japan.

10 July 2006

Alpha Pyrenees Trust Limited ('Alpha Pyrenees' or the 'Company')

Notification of transactions by persons discharging managerial responsibilities
and their connected persons

In accordance with Rule 3.1.2 of the United Kingdom Listing Authority disclosure
rules, Alpha Pyrenees has today received notification from Alpha Real Capital
Singapore PTE. Ltd ('Alpha Real Capital Singapore') that, as at today's date, it
has become interested in 1,490,000 ordinary shares which were allotted to it at
a subscription price of 100p per ordinary share representing 1.17% of the issued
share capital of the Company. This notification arises because Alpha Real
Capital Singapore is a person connected with Phillip Rose, a director of the
Company,   by virtue of his membership of Alpha Real Capital LLP, the parent
undertaking of Alpha Real Capital Singapore and the Company's investment
manager.  The allotment of such shares is further to the Company's announcement
on 30 June 2006.


For further information please contact:

Phillip Rose, CEO, Alpha Real Capital                           020 7591 1609




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