Trading Statement

Ambrian Capital PLC

Trading update

Ambrian Capital PLC ("Ambrian" or "the Company") provides a trading update for the year ended 31 December 2011.

In September 2011, the Company reported a loss of £1.46 million for the six months ended 30 June 2011, reflecting, amongst other things, a write-down of its intangible assets of £2.15 million attributable to its investment in Ambrian Partners Limited ("APL"). Subsequently, the Company announced that it had entered into a conditional agreement to dispose of APL to RFC Group Limited ("RFC"). In November 2011, the Company expected that the transaction would result in a further write-down of its investment in APL amounting to £1.5 million. It is now expected that this write-down will be approximately £2 million. In addition, APL incurred operating losses of c. £1.0 million during the six months ended 31 December 2011. By virtue of the agreement with RFC, the Company does not anticipate any further losses in APL after 31 December 2011. It is anticipated that this disposal will be completed by 31 March 2012.

The Company's commodity operations during the second half of the financial year have been affected by the global slowdown.

After a strong start to the year, the biofuels business was impacted by a period of low biodiesel premiums relative to gasoil and delayed shipments of biodiesel from Asia leading to increased inventory storage and financing expenses. In addition, the start-up costs of Ambrian Energy Limited, an adviser and arranger of fossil fuel transactions, were only partially offset by revenues. Overall the Company sustained losses in its Energy division of c. £1.0 million in the six months ended 31 December 2011.

Ambrian Metals Limited also encountered a subdued market with lower demand in the US and Europe and deferred demand from the Middle East due to overstocking in the region. Ambrian does not expect this business to make a positive contribution in the second half of the financial year to add to its strong first half performance.

Market conditions have also affected the value of the Company's principal investments in public and private resource-based mining, exploration and service companies resulting in a loss of c. £1.0 million during the second half.

The Board expects that the combined effect of these events will be for the Company to report a substantial loss before tax for the year ended 31 December 2011. The Board is currently taking remedial action to address the position including a substantial cost-cutting exercise.

-ENDS-

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About Ambrian Capital PLC

Ambrian Capital plc (AIM: AMBR) is a natural resources investment bank active in Commodities, Corporate Finance & Equities and Principal Investments.

Ambrian Metals Limited is an independent physical metals supplier with a particular strength in refined copper. Through Ambrian Metals' offices in London and Shanghai and agents in New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous metals from producers for distribution to an international client base of metals consumers and merchants.

Ambrian Energy Limited is a physical energy trading company focused on the supply of biofuels, crude oil and fuel oil. Ambrian Energy deploys agents in Turkey, Azerbaijan, the Middle East, South Africa, USA, Korea and Australia/New Zealand. Ambrian Energy is the founder and manager of Strategic Energy Assurance Limited, a company focused on the needs of governments' strategic petroleum reserves.

Ambrian Partners Limited is known in the market for its leading positions in the metals & mining and oil & gas sectors. It provides corporate finance advice, equity research, sales and trading and market making services. Ambrian Partners is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.

Ambrian Principal Investments Limited is an investment company which holds the Group's principal investment portfolio. It is managed by Ambrian Asset Management Limited, which is authorised and regulated by the Financial Services Authority.