PTH Promethean

TIDMPTH TIDMIFP

RNS Number : 7200S

Promethean PLC

24 November 2011

Promethean plc (the "Company")

Portfolio Update

24 November 2011

The Board is pleased to announce that in keeping with the strategy of seeking an orderly exit from investments, the Company has realised its entire holding in IFG Group PLC ("IFG").

IFG, which is listed on both the Official List of the Irish Stock Exchange and the Official List (premium listing) of the United Kingdom Listing Authority, had been subject to a takeover bid earlier this year. The takeover bid lapsed on 13(th) September 2011.

Following the lapse of the takeover bid in September, the Company has now sold 4,469,658 shares in IFG at a price of EUR1.00 per share, being 85.5p, resulting in a write down of GBP0.74m from the Dec 2010 valuation of GBP4.56m.The original cost of the investment was GBP6.32m. Gross dividends of GBP0.51m were received during the period of the investment.

The Company holds no other shares in IFG.

Further information on the remaining investments and realisation progress will be provided at the time of the announcement of the Annual Results which is expected in early December with a view to making a capital distribution in January.

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Enquiries:

Sir Peter Burt

   Promethean Investments LLP               +44 (0) 207 479 7660 

Tom Durie / Gillian McCarthy

   Fairfax I.S. PLC                                    +44 (0) 207 598 5368 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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