Royal Court of Jersey - Reduction of Capital

CAPE PLC

TIDM CIU

4 July 2011

NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION OR TO A RESIDENT, NATIONAL OR CITIZEN OF THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY SUCH OTHER JURISDICTION.

ROYAL COURT OF JERSEY - CONFIRMATION OF REDUCTION OF CAPITAL

On 9 May 2011, Old Cape announced details of proposed changes to the corporate structure of the Group to put in place a new parent company for the Group, which would be Jersey-incorporated and UK listed, with its tax residence in Singapore and Jersey ("New Cape" or the "Company"). The Proposals were implemented by means of a scheme of arrangement of Old Cape under Part 26 of the Companies Act 2006 which became effective on 17 June 2011, and at which point the Company became the ultimate holding company of the Group.

As part of the Proposals, an application was made on 30 June 2011 to the Royal Court of Jersey to confirm the New Cape Reduction of Capital. The Company is pleased to announce that the Royal Court of Jersey has confirmed the New Cape Reduction of Capital and that the order of the Royal Court of Jersey has been registered with the Jersey Registrar of Companies on 1 July 2011.

The New Cape Reduction of Capital is therefore effective as of 1 July 2011, as a result of which the amount standing to the credit of the Company's share premium account as at 17 June 2011 has been cancelled and an equivalent amount has been credited to a reserve of profit in the Company's accounts.

Unless otherwise defined, defined terms in this announcement have the same meaning as in the Prospectus issued by the Company on 16 May 2011.

ENQUIRIES:

Cape plc

Martin K May, Chief Executive +44 (0)20 3178 5498

Richard Bingham, Chief Financial Officer

M:Communications

Patrick d'Ancona +44 (0)20 7920 2347

Ben Simons +44 (0)20 7920 2340

Numis Securities Limited +44 (0)20 7260 1000

(Sponsor in relation to the admission of the Company, Financial Adviser in relation to the Scheme and Joint Corporate Broker)

John Harrison, Managing Director, Corporate Finance

James Serjeant, Director, Corporate Broking

JP Morgan Cazenove +44 (0)20 7588 2828

(Joint Corporate Broker)

Laurence Hollingworth, Head of UK Investment Banking

Patrick Magee, Managing Director, Corporate Finance