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Value Catalyst Fund Limited (T (VCF)

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Wednesday 04 April, 2007

Value Catalyst Fund Limited (T

Holding(s) in Company

The Value Catalyst Fund Limited ("VCF" or "the Company")

Substantial shareholder dealing

VCF was notified that today Laxey Partners Limited acquired 500 ordinary
shares of US$0.001 each ("Ordinary Shares") at a price of £107.00 per share.
Following the acquisition, Laxey Partners Limited holds 74,395 Ordinary Shares
representing 5.90 per cent. of the Company's issued share capital.

Andrew Pegge and Colin Kingsnorth, directors of the Company, are directors and
shareholders as to half each of Laxey Partners Limited.  Laxey Partners Limited
also holds 100 founder shares in VCF.


Smith & Williamson Corporate Finance Limited      +44 (0)20 7131 4000
Dr Azhic Basirov / Siobhan Sergeant

4 April 2007