Notice of EGM

Alpha Pyrenees Trust Limited
06 December 2007



                          ALPHA PYRENEES TRUST LIMITED

    PROPOSAL TO HOLD ORDINARY SHARES REPURCHASED BY THE COMPANY IN TREASURY

                    NOTICE OF EXTRAORDINARY GENERAL MEETING


6 December 2007

Alpha Pyrenees Trust Limited ('Alpha Pyrenees' or the 'Company') announces its
intention, subject to shareholder approval, to amend the existing articles of
association to allow for any ordinary shares repurchased by the Company to be
held in treasury.

A circular will be posted to shareholders today, containing full details of the
proposed amendment and convening an Extraordinary General Meeting on Thursday 20
December 2007 to seek the approval of shareholders.

The Board of Alpha Pyrenees are currently considering exercising the existing
authority to repurchase some shares and the technical amendment to the Company's
articles of association to allow the Company to hold shares in treasury,
requiring shareholder approval, provides the Board with the requisite
flexibility to manage the Company's share capital effectively.


Copies of the circular will be submitted to the UK Listing Authority and will
shortly be 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: [phone]

Copies of the circular can be obtained upon request from either the Company or
the Investment Manager, Alpha Real Capital LLP.


For further information please contact:


Richard Kingston, Chairman, Alpha Pyrenees               01481 715601

Paul Cable, Fund Manager, Alpha Real Capital             020 7591 1635

Capel Irwin, KBC Peel Hunt (broker to the Company)       020 7418 8907

Nick Wells, Cenkos Securities (broker to the Company)    020 7397 8920

Ed Orlebar, M:Communications                             020 7153 1523


For more information on Alpha Pyrenees including viewing a copy of the
shareholder circular please visit www.alphapyreneestrust.com







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