Additional Investment into agri.capital

Ludgate Environmental Fund Invests EUR4.0M into Securites of agri.capital

Ludgate Environmental Fund Limited (LEF.L and LEFW.L) announces that it has invested a further EUR4.0 million in agri.capital in the form of 8% preferred stock with detachable warrants. LEF's total investment in the company is now EUR11.3 million.

agri.capital will use the new funds for organic growth, acquisitions and to expand its presence in Europe.

About agri.capital:

agri.capital Group is one of Germany's largest decentralized producers of energy from biogas. At present, the company operates biogas plants in 52 locations throughout Germany and one site in Austria. Its current electricity generation capacity is approximately 38.4 MW, with further plants under construction.

agri.capital Group is a vertically integrated business that covers a large part of the entire added value chain. In addition to heat and electricity generation, agri.capital operates three plants for feeding biomethane (bio natural gas) into the natural gas network. The capacity of these plants adds up to 150 mill. kWh per year. agri.capital intends to continue growing in this sector and will be scaling up its investment in biomethane projects in the future.

Website: www.agri-capital.de

About Ludgate Environmental Fund:

Ludgate Environmental Fund Limited ("LEF" or the "Fund") invests in a diverse portfolio of late stage opportunities in the European cleantech sector.

Applying an active management approach, LEF invests growth capital into cleantech companies. The underlying drivers in this sector are strong: increasing strains on natural resources; rising concerns over waste and pollution; increasing public support; and maturing environmental technologies. Focus areas of the Fund include alternative energy; waste management and resource recovery; energy efficiency; water management; industrial process advances and emission reduction technologies.

Ludgate Environmental Fund Limited was launched in August 2007 and further fundraisings have seen assets under management increase to approximately £55 million (as at 31 September 2010). 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

For further information contact:

Ludgate Environmental Fund:

Chairman, John Shakeshaft +44 (0)20 7591 4800

Ludgate Investments Limited:

Nigel Meir +44 (0)20 7621 5770

NOMAD - PricewaterhouseCoopers LLP:

Melville Trimble +44 (0)20 7213 8898

Broker - Matrix Corporate Capital LLP:

Paul Fincham +44 (0)20 3206 7175