Issue of Equity

Conygar Investment Company PLC(The)
29 January 2007



                       The Conygar Investment Company PLC

                                Issue of Equity

The Conygar Investment Company PLC ('the Company') announces that it has entered
into arrangements to place 20,498,500 new ordinary shares of 5 pence each
('the Placing Shares') for cash at a price of 200 pence per share, conditional
upon admission to trading on AIM, to raise £40,997,000 before expenses ('the
Placing').  295,000 of the Placing Shares have been placed with directors of the
Company. The Placing Shares would be allotted under authorities granted to the
directors of the Company by resolution of the Company's shareholders passed at
the annual general meeting of the Company held on 11 January 2007.

The Placing has been carried out in order to satisfy investor demand for the
Company's shares.  The Company continues to see attractive opportunities in its
markets, and the proceeds of the Placing will be deployed in line with the
Company's stated investment strategy.

The Placing Shares will rank pari passu with the Company's existing ordinary
shares.

Application has been made for the Placing Shares to be admitted to AIM and it is
expected that admission will occur on 1 February 2007.

The undernoted directors' shareholdings in the Company have increased following
their participation in the Placing.  The Directors' revised holdings in the
Company are now as follows:


Director             Placing Shares    Resultant holding       % of issued share
                     purchased                                 capital
Robert Ware          225,000           2,725,000               6.79%
Peter Batchelor      25,000            125,001                 0.31%
Steven Vaughan       25,000            125,000                 0.31%
Michael Wigley       20,000            150,000                 0.37%



Enquiries

The Conygar Investment Company PLC
Robert Ware                        020 7408 2322

Bridgewell Limited
Nick Lovering                      020 7003 3000


The directors of Conygar accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Conygar (who have taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.


                      This information is provided by RNS
            The company news service from the London Stock Exchange