Oakley Regulatory News (OCI)

06 February 2014

Oakley Capital Investments Limited ("OCIL" or the "Company")

Trading Update for the 12 months ended 31 December 2013

o NAV per share (unaudited) expected to be in the range of £1.98 - £2.00, representing an increase of over 9% from the prior year (31 December 2012: £1.81)

o Four realisations in the period achieving a gross money multiple of 2.8x and an IRR of 43%, and returning £33 million to the Company

o Acquired control of Reddam House, a leading operator of independent schools, with a view to international expansion

Oakley Capital Investments Limited (AIM: OCL), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. (the "Limited Partnership") and its successor funds, today announces a trading update for the 12 months ended 31 December 2013.

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

The Limited Partnership's portfolio of investments comprises six businesses; Daisy Group plc; Verivox Holdings Limited; Time Out Limited and Time Out America LLC (together, "Time Out Group"); intergenia Holding GmbH; Broadstone Pensions and Investments Limited; and Educas Investments LLP ("Educas"). Oakley Capital Limited, OCIL's investment adviser, estimates that the Company's net asset value, which is subject to the completion of the 31 December 2013 audit of the Limited Partnership, and the Company, will be in the range of £245 million to £247 million, generating a net asset value per share of £1.98 to £2.00 (31 December 2012: £1.81). The OCIL net asset value is made up of cash, the investment in the Limited Partnership, short-term bridging finance for the Limited Partnership and loans provided to a number of the portfolio companies.

Key Highlights

Of the four realisations in the period, two were significant:

· On 31 January 2013, the Limited Partnership sold Emesa B.V. to Cyrte Investments B.V. for gross consideration of €95 million. This represented a 3.5x return on investment for the Limited Partnership and a gross IRR in excess of 100%. As a result of the disposal, £25.6 million was distributed to the Company.

· On 10 May 2013, the Limited Partnership sold Headland Media Limited to KVH Industries, Inc for an enterprise value of £15.5 million, representing a 2.7x return on investment for the Limited Partnership and a gross IRR of 27%. As a result of the disposal, £6.6 million was distributed to the Company.

On 10 July 2013, the Limited Partnership used Educas to acquire control of Reddam House, a leading operator of premium private schools in South Africa, for €16.8 million, providing a significant growth opportunity, including the potential to explore international acquisitions leveraging Reddam House's excellent reputation in the independent schools' sector.

Peter Dubens, Director, commented:

"2013 has been a year of very significant progress for OCIL with NAV per share up over 9% year on year based on strong exits made by the Limited Partnership and the underlying financial performance of the remainder of the investment portfolio. 2014 has started strongly with an interesting pipeline of proprietary investment opportunities under consideration."

For further information please contact:

Oakley Capital Investments Limited

+44 20 7766 6900

Peter Dubens

FTI Consulting

+44 20 7831 3113

Edward Bridges

Liberum Capital Limited (Nominated Adviser & Broker)

+44 20 3100 2000

Steve Pearce / Tom Fyson

About Oakley Capital Investments Limited ("OCIL")

Oakley Capital Investments Limited is a Bermudan based company listed on AIM. OCIL seeks to

provide investors with long term capital appreciation through its investments in Oakley Capital Private Equity L.P. and OCPE II Master L.P. and, over time, through co-investment opportunities.

About Oakley Capital Private Equity L.P. and OCPE II Master L.P.

Oakley Capital Private Equity L.P. and its successor fund, OCPE II Master L.P., are both unlisted UK and European mid-market private equity funds with the aim of providing investors with significant long term capital appreciation. The investment strategy of both funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. Both funds seek to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.