Net Asset Value - 31 December 2010

Ludgate Environmental Fund: NAV Update

Ludgate Environmental Fund announces that on 31st December 2010 the unaudited Net Asset Value per Share of the Company was 98.6p (at 30th September 2010: 98.6p).

About Ludgate Environmental Fund:

The Investment Policy of Ludgate Environmental Fund Limited (the "Company") is to provide capital growth and return through investment in a diverse portfolio of securities issued by cleantech companies over the expected life of the Company.

 The cleantech sector includes companies whose businesses operate in the following areas: 

• Energy efficient and alternative energy resources;

• Water treatment and management;

• Waste management and recycling (resource recovery);

• Industrial process advances; and

• Emission reduction technologies. 

LEF was launched in August 2007 and further fundraisings have seen assets increase to approximately £55 million. LEF is a Jersey domiciled closed-ended investment company, quoted on AIM under the symbols LEF.L for the shares and LEFW.L for the warrants.

Website: www.ludgateenvironmental.com 

Ludgate Environmental Fund

John Shakeshaft +44 (0)1534 609329  

Ludgate Investments Limited

Nigel Meir +44 (0)20 7621 5770

NOMAD

PricewaterhouseCoopers LLP

Melville Trimble +44 (0)20 7583 5000

Broker

Matrix Corporate Capital LLP 

Paul Fincham +44 (0)20 3206 7175