ICG Enterprise Trust Regulatory News (ICGT)

ANNOUNCEMENT TO STOCK EXCHANGE

GRAPHITE ENTERPRISE TRUST PLC

29 May 2013

Graphite Enterprise Trust PLC ("the Company") announces that Graphite Capital Partners VI ("Graphite VI") has today sold its investment in Dominion Gas ("Dominion"), the Aberdeen-based oilfield services company. Dominion was the Company's eleventh largest underlying investment at 31 January 2013.

Graphite VI, which is managed by Graphite Capital, sold Dominion to Praxair, Inc., the New York-listed industrial gases group, having backed the management buy-out in May 2007.

The exit price represents a uplift of 44% to the carrying value of the investment at 31 January. Taken in isolation, the effect is to increase the Company's net asset value per share by 3.3p to 634.7p, or by 0.5% compared with that at 31 January. The Company expects to receive a distribution in excess of £7 million from Graphite VI in the next few weeks.

Under Graphite's ownership, Dominion has grown its international operations and its product range, both organically and through acquisitions. It has significantly increased staff numbers. The business achieved record turnover and profits in 2012.

The Company's results for the quarter ended 30 April 2013 will be announced on 13 June 2013.

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Graphite Enterprise Trust PLC

Graphite Enterprise Trust PLC ("Graphite Enterprise" or "the Company") aims to provide shareholders with long term capital growth through investment in unquoted companies. To achieve this, the Company invests in private equity funds and also directly in private companies.

The Company was listed in 1981 and has invested exclusively in private equity and been managed by Graphite Capital throughout its life.

Graphite Enterprise provides access to a diverse portfolio of buy-outs of mature, profitable companies in established European private equity markets. The Company invests in in UK-based mid-market companies through funds managed directly by Graphite Capital. Typically these will make up 20-25% of the portfolio. Investments in other UK companies and in overseas markets are made through funds managed by third parties. The Company does not invest in start ups or early stage businesses. Direct investments in companies may be made alongside both Graphite Capital and third party funds.

Shareholders of Graphite Enterprise gain exposure to a diverse portfolio of buy-outs of mature, profitable companies in established European private equity markets, with over 300 underlying companies. Graphite Capital directly manages many of the largest companies in the portfolio.

Since inception, the Company has generated a return of more than 26 times the amount subscribed.

www.graphite-enterprise.com 

Graphite Capital

Graphite Capital is one of the UK's leading mid-market private equity firms with over £1.2 billion of funds under management. It has raised and managed funds for 32 years. The senior management team has worked together for 16 years.

Graphite Capital manages both direct investments in portfolio companies and private equity fund investments.

Direct investments are predominantly made through limited life funds which have a global institutional investor base. The focus of direct investments is on UK mid-market buy-outs of companies valued at between £40 million and £150 million across a range of industry sectors.

Fund investments are made exclusively by Graphite Enterprise. Fund investments focus mainly on European buy-out funds, but there is also some exposure to the USA and to growth capital and mezzanine funds. The investment strategy is to back private equity managers with strong track records operating in mature markets, with the aim of building long term relationships.

As it has a long experience both of managing its own funds and of investing in third party funds, Graphite Capital has an unusually broad perspective when assessing fund and co-investment opportunities. Graphite Enterprise benefits from both the expertise of a dedicated fund investment team as well as the insights of Graphite Capital's direct investment team.

www.graphitecapital.com