Safestore Regulatory News (SAFE)

Bridgepoint Capital Ltd

18 March 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR IN OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

Bridgepoint Capital Ltd partial disposal of interest in Safestore Holdings plc

18 March 2010

Bridgepoint Capital Ltd ("Bridgepoint") announces today that it intends to offer for sale up to 32 million ordinary shares of 1 pence each (the 'Shares') in the capital of Safestore Holdings plc ("Safestore" or the "Company"). This represents, in aggregate, up to a maximum of 17.0 per cent. of the current issued ordinary share capital of Safestore. Bridgepoint will continue to hold at least 17.9 per cent of the current issued ordinary share capital of Safestore post this transaction. Bridgepoint have committed, subject to limited carve outs, to not sell further shares in Safestore for a period of 90 days from this announcement.

The offering will be effected by way of an accelerated bookbuilt offering (the 'Placing') to be launched immediately following this announcement. J.P. Morgan Cazenove has been appointed Sole Bookrunner in respect of the Placing. The placing price of the Shares will be determined at the close of the bookbuild and announced shortly thereafter.

Contacts:

Bridgepoint Capital Ltd

James Murray +44 (0)20 7432 3555

J.P. Morgan Cazenove

Laurence Hollingworth +44 (0)20 7155 5000

Nicholas Hall +44 (0)20 7155 5000

THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS WHO (1) IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA ARE QUALIFIED INVESTORS WITHIN THE MEANING OF DIRECTIVE 2003/71/EC AND ANY RELEVANT IMPLEMENTING MEASURES (THE 'PROSPECTUS DIRECTIVE'); (2) IN THE UK HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED) (THE 'ORDER'); OR (3) IN THE UK ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER (ALL SUCH PERSONS REFERRED TO IN (1), (2) AND (3) TOGETHER BEING REFERRED TO AS 'RELEVANT PERSONS'). THE INFORMATION REGARDING THE PLACING SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

This announcement has been issued by Bridgepoint and is the sole responsibility of Bridgepoint. 

This announcement and the information contained herein is for information purposes only and does not constitute or form part of any offer or an invitation to acquire or dispose of securities in the United States, Canada, Australia or Japan or in any other jurisdiction in which such an offer of solicitation is unlawful. 

The Shares have not been, and will not be, registered under the Securities Act or under the securities laws of any State or other jurisdiction of the United States, and, absent registration, may not be offered or sold in the United States or to a U.S. person (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or as part of a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any State or other jurisdiction of the United States. There will be no public offering of securities in the United States or elsewhere.

Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by any of Bridgepoint, J.P. Morgan Cazenove or their respective affiliates.

Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into or from the United States, Canada, Australia or Japan. Any failure to comply with this restriction may constitute a violation of United States, Canadian, Australian or Japanese securities laws.

The distribution of this announcement and the offering or sale of the Shares in certain jurisdictions may be restricted by law. No action has been taken by Bridgepoint or J.P. Morgan Cazenove or any of their respective affiliates that would, or which is intended to, permit a public offer of the Shares in any jurisdiction or possession or distribution of this announcement or any other offering or publicity material relating to the Shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Bridgepoint and J.P. Morgan Cazenove to inform themselves about and to observe any such restrictions.

J.P. Morgan Cazenove is acting for Bridgepoint only in connection with the Placing, and no one else, and will not be responsible to anyone other than Bridgepoint for providing the protections offered to clients of J.P. Morgan Cazenove nor for providing advice in relation to the Placing.

J.P. Morgan Cazenove is a marketing name used by J.P. Morgan Securities Ltd.