Net Asset Value(s)

TAU CAPITAL PLC

NET ASSET VALUE

The Board is pleased to advise that, following consultation with the Investment Managers, the estimated Net Asset Value ("NAV") as at close of business on 30 September 2012 is USD0.59 per share.

Further to the announcement of the Tender Offer made 5 October 2012 the Repurchase Price of the Tender Offer is USD0.581075 This represents a premium of 22.3% to the mid market share price of USD0.475 on 12 October 2012.

On the basis of a Repurchase Price of USD 0.581075, the below are the final Tender Offer details:

·; The maximum number of shares subject to the tender are 48,182,004

·; The Basic Entitlement is 22.142%

·; The Tender Discount to the unaudited NAV is 1.0%

Full details of the steps to be taken by shareholders wishing to take advantage of the Tender Offer are contained in the Circular posted on 5 October 2012 a copy of which is also available on the web site http://www.taucapitalplc.com/assets/files/Tau%20Capital%20PLC%20Tender%20offer%20Circular.pdf

Capitalised terms not defined in the body of this announcement shall have the meaning given to them in the Circular dated 5/10/12.

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