Appointment of investment manager

TRIKONA TRINITY CAPITAL PLC

(the "Company")

APPOINTMENT OF INVESTMENT MANAGER

On 25 January 2010, the Company announced that it had appointed Rothschild (as lead adviser) and DTZ (as co-adviser) to assist the Company on the selection and appointment of an investment manager following the termination of the appointment of Trikona Advisers Limited. 

The Company is pleased to announce that Trinity Capital Mauritius Limited ("TCML"), a wholly owned subsidiary of the Company, has today entered into an investment management agreement (to which the Company is also a party) appointing Indiareit Investment Management Company ("Indiareit") as investment manager to TCML (the "Investment Management Agreement").

Indiareit was established to provide investment management services to real estate funds targeting investment in the Indian real estate sector. Indiareit currently advises Indiareit Offshore Fund ("IOF"), a Mauritius based Indian property fund with US$ 200m of committed capital from investors. 3i entities, part of the 3i Group plc (a UK based private equity group with investments in various countries worldwide), are the cornerstone investors in IOF. IOF invests in development properties and property companies in India.

Indiareit Fund Advisors Private Limited which acts as the Indian advisor to Indiareit, is sponsored by Ajay Piramal of the Piramal Group and currently manages three domestic funds with aggregate assets under management of approximately US$ 350m. Piramal Group is a diversified group with interests in healthcare, drug discovery and research, diagnostics, glass containers, financial services and real estate development.

The Investment Management Agreement will terminate (without penalty) unless Shareholders of the Company approve the appointment of Indiareit on or before 31 August 2010. Accordingly, the Board intends to convene an extraordinary general meeting ("EGM") at which, inter alia, a resolution approving the appointment of Indiareit will be proposed. The notice convening the EGM will be included in a circular, which will contain full details of the appointment and the terms of the Investment Management Agreement, which will be posted to Shareholders in the near future. 

Hogarth

Tim McCall/ James White +44 207 357 9477

IOMA Fund Management and Investment

Management Limited

Philip Scales, Director +44 1624 681 250

Evolution Securities, Nominated Adviser and

Joint Broker

Bobbie Hilliam/ Chris Clarke, Corporate Finance +44 207 071 4300

Arden Partners plc, Joint Broker

Chris Hardie, Corporate Finance +44 207 614 5900

Rothschild

Robert Waddingham +91 11 3044 6622

DTZ

Amber Maheshwari +91 22 4223 1611

Anuj Nangpal +91 22 4223 1600