Statement re Letter to Electra

Sherborne Investors (Guernsey) B Limited

25 February 2015

Sherborne Investors (Guernsey) B Limited

Statement re Letter to Electra

The board of directors of Sherborne Investors (Guernsey) B Limited (the "Company") has been informed by Sherborne Investors Management (Guernsey) LLC ("Sherborne Investors"), the investment manager of SIGB, LP, in which the Company is a limited partner, that, following the announcement of the results of Electra Private Equity plc's ("Electra") strategic review on 11 February 2015, on 20 February 2015 Sherborne Investors sent a letter to Electra's Chairman proposing a resumption of discussions about board representation and participation in an expanded review of options to increase Electra's shareholder value.

The board of directors of the Company were further informed that Sherborne Investors has renewed its proposal, made in July 2014, to appoint Ian Brindle, Edward Bramson and a new independent director to the board of Electra and that Sherborne Investors has advised Electra that, if such discussions are not successful, it intends to requisition a general meeting of shareholders of Electra to propose these appointments.

Sherborne Investors has also informed the board of directors of the Company that SIGB, LP held an interest in Electra of 25.16% as at 20 February 2015.

Sherborne Investors, as the regulated investment manager of SIGB, LP directs the investment affairs of SIGB, LP at its sole discretion.

-Ends-

Enquiries: 

FTI Consulting +44 (0)20 3727 1000

Jonathon Brill

Numis Securities Limited (Broker) +44 (0)20 7260 1275

David Benda

Sherborne Investors (Guernsey) B Limited +44 (0)14 8171 3843

Talmai Morgan (Chairman)

Gillian Newton (Administrator)