Annual Financial Report

30 March 2012

ALPHA PYRENEES TRUST LIMITED ("ALPHA PYRENEES" OR THE "COMPANY")

ANNUAL REPORT AND FINANCIAL STATEMENTS

Further to the Company's results announcement dated 16 March 2012, the Directors of Alpha Pyrenees confirm that the annual report and financial statements of the Company (the "Annual Report") for the year ended 31 December 2011 have been posted to shareholders today.

A copy of the Annual Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do .

Copies of the Annual Report can be downloaded from Alpha Pyrenees' website at www.alphapyreneestrust.com .

Contact:

Dick KingstonChairman, Alpha Pyrenees Trust Limited01481 735540Paul CableFund Manager, Alpha Real Capital LLP020 7268 0300

For more information on the Trust please visit www.alphapyreneestrust.com.

For more information on the Trust's Investment Manager please visit www.alpharealcapital.com.