BCAP.L Regulatory News (BCAP)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

Better Capital PCC Limited

Update on 2012 Cell

Better Capital PCC Limited (the "Company") is a limited liability, closed-ended investment company. The Company has established two protected cells; the 2009 Cell, the limited partner of BECAP Fund LP ("Fund I"); and the 2012 Cell, the limited partner of BECAP12 Fund LP ("Fund II"). The 2009 Cell and 2012 Cell have the investment objective of generating attractive total returns from investing (through Funds I and II respectively) in portfolios of businesses which have significant operating issues and may have associated financial distress, with a primary focus on businesses which have significant activities within the United Kingdom and Ireland.

Fund II is 66.5 per cent committed having successfully acquired its third platform investment shortly following the close of the Company's financial year and the Board is confident that the Better Capital brand is attracting sufficient opportunities for the profitable deployment of the remainder of Fund II in the near term. With the Consultant's confidence in ongoing deal flow, the Board has decided, in line with the intent stated in the Company's prospectus dated 19 December 2011, to pursue a further fundraising in the coming months by way of an issue of new shares in the 2012 Cell at a premium to NAV.

Institutional investors wishing to consider a participation in the fundraising should contact Numis Securities Limited, the Company's corporate broker:

Numis Securities Limited (Corporate Broker & Financial Adviser) Tel. +44 (0)20 7260 1000

Nathan Brown, Corporate Broking

Tod Davis, Sales

Oliver Hardy, Corporate Finance

For enquiries please contact:

Better Capital PCC Limited Tel. +44 (0)1481 716 000

Mark Huntley (Director)

Laurence McNairn (Administrator and Company Secretary)

Powerscourt (Public Relations Adviser) Tel. +44 (0) 20 7250 1446

Justin Griffiths

Carmen Murray

Important Information

This announcement is for information purposes only and does not constitute an invitation to subscribe for or otherwise acquire or dispose of securities in the Company in any jurisdiction. The information contained in this announcement is for background purposes only and does not purport to be full or complete. This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investments nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.