Assetco Regulatory News (ASTO)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO OR FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

15 September 2011

Arcapita Bank B.S.C.(c) ("Arcapita")

No intention to make an offer for AssetCo plc ("AssetCo" or the "Company")

Following extensive negotiations with the Company and its creditors, Arcapita has decided to withdraw its offer proposal and confirms that it does not intend to make an offer for AssetCo. Arcapita invested significant time and resource into assessing an investment in the Company but it has been unable to reach satisfactory agreement with the Company's existing lenders and preference share holders, and is therefore unable to put an offer to the shareholders of the Company.

For the purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "Takeover Code"), Arcapita reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for AssetCo (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Takeover Code) within the next six months following the date of this announcement:

(i) with the agreement or recommendation of the Board of AssetCo;

(ii) following the announcement by or on behalf of a third party of a firm intention to make an offer for AssetCo or AssetCo announces that it has received an approach in relation to a possible offer from a third party;

(iii) following the announcement by AssetCo of a "whitewash" proposal or a reverse takeover, other than the current "whitewash" proposal (including any subsequent amendments) announced on 9 September 2011; and

(iv) if there is a material change of circumstances.

Enquiries:

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities. This announcement has been prepared in accordance with English law and the Takeover Code and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside of the United Kingdom.

The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

This announcement will be available on Arcapita's website (www.arcapita.com) by no later than 12 noon (London time) on 16 September 2011.