Oakley Regulatory News (OCI)

5 July 2011

Oakley Capital Investments Limited

Pre-close Statement

·; Unaudited NAV expected to be in the range of 178p - 180p

o Up over 22% year on year

·; Recent acquisitions of Time Out and Emesa by the Limited Partnership position the Company for future growth

Oakley Capital Investments Limited (AIM: OCL, "OCIL", or "the Company"), the AIM-listed company that provides investors with access to the investment strategy of Oakley Capital Private Equity L.P. (the "Limited Partnership"), announces its Pre-close Statement for the six months ended 30 June 2011.

The Company, via its investment in the Limited Partnership, has an indirect interest in each of the Limited Partnership's eight portfolio companies representing 65% of the Limited Partnership's total commitments.

Oakley Capital Limited, the Investment Adviser to the Limited Partnership, estimates that the unaudited Net Asset Value of the Company will be in the range of 178p to 180p per share, up from 146p for the same period last year and 168p at 31 December 2010. The OCIL NAV is made up of cash, the investment in the Limited Partnership, and mezzanine and senior loans made to the portfolio companies.

During the period, the Limited partnership made two additions to the portfolio:

·; On 25 March 2011, the Limited Partnership announced that it had acquired 68% of Emesa B.V., a leading e-commerce company active in the Dutch online leisure market. The Limited Partnership provided equity of €11.9 million and OCIL provided senior debt of €10.0 million and a mezzanine loan of €5.4 million. The business continues to trade strongly, with new records for auction volumes being set each month.

·; On 27 May 2011, the Limited Partnership announced that it had acquired 65.7% of Time Out America LLC ("Time Out New York"). It is anticipated that this investment will enhance the previous investment in Time Out Group Limited made in November 2010 to create a global digital media and transactional platform. Time Out New York controls the use of the brand across the US (excluding Chicago), Canada, Mexico, Central America and the Caribbean. The acquisition allows the Time Out world-wide rights to be consolidated under common ownership and the business to pursue a unified strategy. The Limited Partnership subscribed for equity of $15 million and OCIL provided $3.4 million in senior loan notes and $5 million in mezzanine loans.

Peter Dubens, Director, commented:

"We are pleased with the trading performance of the Limited Partnership's portfolio companies in the first half of 2011. We are delighted to have been able to make two high quality investments, Time Out and Emesa, both of which are capable of generating strong returns over the coming years. These acquisitions reflect an improvement in the prospects pipeline from this time a year ago and provide a positive backdrop for the remainder of 2011."

The Company is scheduled to release interim results for the half year to 30 June 2011 on 16 August 2011.

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About Oakley Capital Investments Limited

The Company was established to provide investors with access to the investment strategy being pursued by the Limited Partnership.

The primary objective of the Limited Partnership is to invest in a diverse portfolio of private mid-market UK and European businesses, aiming to provide investors with significant long-term capital appreciation.

The investment strategy of the Limited Partnership is to focus on companies with the scope for performance improvement operating within industries with growth or consolidation potential. In addition, the Limited Partnership seeks to invest in companies with the potential to achieve scale, thereby commanding a premium on exit.