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Value Catalyst Fund Limited (T (VCF)

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Tuesday 11 December, 2007

Value Catalyst Fund Limited (T

Directorate change

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

Directorate Change

The Board is pleased to announce the appointment, yesterday, of Michael Haxby in
the capacity as Finance Director.

Michael  Andrew  Haxby  (age  35)  joined Laxey Partners  Limited  ("Laxey")  in
February  2001 and became an executive director of Laxey in December  2001.   He
manages the global risk for Laxey's eleven funds including currency hedging.  He
is  also responsible for the coordination, integration and protection of Laxey's
IT  systems  and  the development and maintenance of fund management  investment
tools.   Prior  to joining Laxey, he worked, with the principals  of  Laxey,  in
various  back  office,  analysis and trading roles  at  Regent  Kingpin  Capital
Management and Buchanan Partners.  He holds an Honours Degree in Accounting  and
Financial   Management   Bsc  (Econ),  and  passed  the  Investment   Management
Certificate (IMC) in 1996.

Mr  Haxby's  current and previous directorships and partnerships over  the  past
five years are as follows:

Current                                                       Past

Laxey Partners Limited - Isle of Man                          None
Laxey Partners GP Limited - British Virgin Islands
Laxey Partners (GP) Limited - Isle of Man
Laxey Partners GP (2) Limited - British Virgin Islands
Laxey Partners GP (3) Limited - British Virgin Islands
Laxey  Partners GP (4)  Limited  - British Virgin Islands
LP Value Limited - British Virgin Islands
Leaf Limited - British Virgin Islands
Laxey  Investors Limited - British Virgin Islands
LACV  II Limited - British  Virgin Islands
LACV   Limited  -  British  Virgin Islands
LAXC   Limited  -  British  Virgin Islands
LSS  (GP) Limited - British Virgin Islands
RDIR (IOM) Limited - Isle of Man
Vampire Holdings Ltd - Isle of Man
LIL  Investments  No.1  Limited  - Isle of Man
LIL  Investments  No.2  Limited  - Isle of Man
LIL  Investments  No.3  Limited  - Isle of Man
LIL  Investments  No.4  Limited  - Isle of Man


On  his  appointment, Mr Haxby has a beneficial interest in  1,602,000  ordinary
shares  of  US$0.00001 each in VCF, equivalent to 1.26 per cent. of  the  issued
share  capital of the Company, registered in the name of Laxey Partners  Limited
re the Employee Benefit Trust of which Mr Haxby is a beneficiary.

There  is  nothing  further to disclose in relation to  Mr  Haxby's  appointment
pursuant to Rule 17 of the AIM Rules for Companies.

11 December 2007

Enquiries:

Azhic Basirov
Smith & Williamson Corporate Finance Limited
Tel +44 (0)20 7131 4000