FTE Automotive Press Release

HG Capital Trust PLC
15 January 2004


The following is the text of a press release issued by HgCapital, manager of the
investment portfolio of HgCapital Trust plc.  The Trust participates in all of
HgCapital's investments and FTE Automotive GmbH is one of its larger
investments.


                'HgCapital and FTE Automotive move into top gear


London, 12 January 2004 -- World-leading brake and clutch manufacturer, FTE
Automotive GmbH, which at the end of 2002 was the subject of a management
buy-out financed by HgCapital, has acquired Automotive Products (USA) Inc. (AP),
a major US clutch actuation company.

With a turnover of $60 million, AP is the leading manufacturer of hydraulic
clutch actuation systems in North America.  AP supplies primarily the light
commercial vehicle after-market sales channel, a business that is highly
complementary to FTE's passenger car vehicle manufacturer customer base.

FTE has a reputation for product innovation, particularly with the development
of a semi-automatic clutch for gearboxes of premium cars.  Its expansion into
North America, together with a rapidly-developing business in Asia, consolidates
its global presence and position as the world market leader in clutch
hydraulics. The combined company will turn over in excess of €350 million.

Karsten Hartmann, associate director at HgCapital in Frankfurt, said:

'We are delighted to have contributed to the success of the acquisition through
our partnership with the FTE management team.   Despite a difficult year in 2003
for the automotive industry, FTE continues its history of profitable growth and
has responded to the challenges of an increasingly competitive market place.

'Our continued success in the German market is based on our sector expertise,
which allows us to fulfil our ethos of adding value by identifying and realising
consolidation opportunities in order to help achieve a company's expansion
plans.'

Commenting on the acquisition, Wolfgang W. Bruns, CEO of FTE said:

'This acquisition is another step in our development plans for FTE. Over the
last year HgCapital has worked closely with us to streamline our cost structure
and make operational improvements. I am confident that, with HgCapital's
backing, FTE will continue its expansion, both organically and through further
acquisition.'

HgCapital was advised by PricewaterhouseCoopers, Transconnect and Lovells. Debt
facilities were arranged and underwritten by Barclays Capital.


                                    - ends -


Enquiries:

Karsten Hartmann             [phone]
HgCapital
@hgcapital.net

Trevor Phillips              [phone]
Holborn Public Relations Limited
[e-mail]

Voker Siegert                [phone]
equinet Communications
[e-mail]


Notes to editors:

About HgCapital - www.hgcapital.net

HgCapital is a leading provider of finance to the European private equity market
and has offices in the UK and Germany.  It focuses on companies with enterprise
values ranging from €40 million to €400 million and specialises in the following
industry sectors: media, industrials, consumer, healthcare, technology and
leisure.

HgCapital's recent investments within Germany have included:

•    WET Automotive Systems - world market leader for seat heating systems

•    FTE Automotive - world market leader for hydraulic clutch actuation systems.

•    Trados - leading language translation software.

•    PII Group - oil and gas pipeline inspection services.

•    Verigen - cartilage repair technology.

HgCapital services over 200 institutional clients and manages HgCapital Trust
plc, a quoted vehicle that participates in all of HgCapital's investments.
HgCapital has funds under management of €1.1 billion.

www.hgcapital.net

HgCapital is the trading name of Hg Investment Managers Limited and Hg Pooled
Management Limited. Registered office: Third Floor, 3-5 Minerva House, Montague
Close, London SE1 9BB.  Authorised and regulated by the Financial Services
Authority.'



15 January 2004


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