Net Asset Value as at 30 June 2010

Ludgate Environmental Fund: NAV Update

Ludgate Environmental Fund announces that as at 30 June 2010 the unaudited Net Asset Value per Share of the Company was 98.8p. (31 March 2010: 100.5p)

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.

LEF was launched in August 2007 and further fundraisings completed in March and November 2008 have seen assets increase to approximately £50 million. The Fund 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 Limited +44 (0) 1534 609 329

John Shakeshaft, Chairman

Ludgate Investments Limited +44 (0) 20 7621 5770

Nick Pople / Nigel Meir

PricewaterhouseCoopers LLP (Nomad) +44 (0) 20 7213 8898

Melville Trimble

Matrix Corporate Capital LLP (Broker) +44 (0) 20 3206 7175

Paul Fincham

Shared Value Limited +44 (0) 20 7321 5038

Peter Edsinger