Purchase of Own Securities

Second Advance Value Realisation Co
26 August 2003

Following purchases of its own Redeemable Preference Shares earlier today,
Second Advance Value Realisation Company Limited announces that, in the period
from the Company's launch on 25 April 2003 to 26 August 2003, it has purchased
6,263,173 of its own Redeemable Preference Shares in the market for
cancellation.

Following the cancellation of these Redeemable Preference Shares, the Company
will have 25,810,820 Redeemable Preference Shares in issue.



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