Monthly Net Asset Value (7723P)

TIDMCRS

RNS Number : 7723P

Crystal Amber Fund Limited

07 October 2011

7 October 2011

CRYSTAL AMBER FUND LIMITED

("Crystal Amber Fund" or the "Fund")

Monthly Net Asset Value

Crystal Amber Fund announces that its unaudited net asset value ("NAV") per share on 30 September 2011 was 101.40p (31 August 2011:104.75p per share).

The proportion of the Fund's NAV at 30 September 2011 represented by the five largest holdings, other investments and cash (including accruals), was as follows:

 
                                               Percentage of investee 
 Top five holdings           Pence per share         equity held 
--------------------------  ----------------  ----------------------- 
 Omega Insurance Holdings 
  Ltd                              9.9                  3.2% 
 N Brown Group plc                 9.5                  0.8% 
 TT Electronics plc                8.3                  2.1% 
 PayPoint plc                      7.8                  1.5% 
 Renishaw plc                      6.2                  0.5% 
 Total of five largest 
  holdings                        41.7 
 Other investments                38.5 
 Cash and accruals                21.2 
--------------------------  ---------------- 
 Total NAV                        101.4 
--------------------------  ----------------

Commentary on the Portfolio

In July 2011, the Fund received the proceeds from the sale of Pinewood Shepperton plc and since that time has utilised its strong cash balances at a time of market turbulence to establish positions in companies that the Fund has been monitoring for some time. For example, in recent weeks the Fund has acquired a 2.1% holding in TT Electronics plc, which it considers to have a good potential for value enhancement.

Omega Insurance Holdings Ltd ("Omega")

On 12 September 2011, Haverford (Bermuda) Limited, led by its chairman Mark Bryne, made a firm offer for 25% of the share capital of Omega at up to 83p a share. In response, two Lloyd's insurers, Canopius Group Limited and Barbican Group Holdings Limited, have expressed interest in making an offer for Omega or merging with it. The Omega share price rose by 14% during September.

For further enquiries please contact:

Crystal Amber Fund Limited

William Collins (Chairman)

Tel: 01481 716 000

Merchant Securities Limited - Nominated Adviser

David Worlidge/Simon Clements

Tel: 020 7628 2200

Numis Securities Limited - Broker

Nathan Brown/Hugh Jonathan

Tel: 020 7260 1426

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein