Transaction in Own Shares

Ludgate Environmental Fund Limited (the "Company")

Transaction in Own Shares 

Ludgate Environmental Fund Limited announces that in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 21 December 2012, it purchased 625,000 of its ordinary shares at a price of 55p per share on Friday 10 May 2013. The ordinary shares purchased will be cancelled. 

The total number of ordinary shares in issue, following the above purchase and cancellation, is 55,354,784.

13 May 2013

For further information contact:

Ludgate Environmental Fund Limited +44 (0) 1534 609034

John Shakeshaft, Chairman

Ludgate Investments Limited +44 (0) 20 3478 1000

Bill Weil, Chief Investment Officer

PricewaterhouseCoopers LLP (Nomad) +44 (0) 20 7212 1798

Chris Clarke

Panmure Gordon (Broker) +44 (0) 20 7866 2713

Paul Fincham