Notifications of Major Interests in Shares

13 June 2008

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ACP MEZZANINE LTD
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights No
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached No
An event changing the breakdown of voting rights No
Other (please specify): Yes (ISSUE CAPITAL CHANGE)
3. Full name of person(s) subject to notification obligation: BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme. See Section 9 for further information.
4. Full name of shareholder(s) (if different from 3): Hermes Equity Ownership Services Limited
5. Date of transaction (and date on which the threshold is crossed or reached if different): 12 JUNE 2008
6. Date on which issuer notified: 13 JUNE 2008
7. Threshold(s) that is/are crossed or reached: Crossed from 3% to 1%
8: Notified Details
A: Voting rights attached to shares
Class/type of shares If possible use ISIN code Situation previous to the triggering transaction Resulting situation after the triggering transaction
Number of shares Number of voting rights Number of shares Number of voting rights Percentage of voting rights
Direct Indirect Direct Indirect
B18J027
ORD NPV
GB00B18J0278 		3,250,000 3,250,000 3,250,000 3,250,000 N/A 1.384% N/A
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument Expiration date Exercise/ conversion period/date No. of voting rights that may be acquired (if the instrument exercised/converted) Percentage of voting rights
-        
Total (A+B)
Number of voting rights Percentage of voting rights
3,250,000 1.384%
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent underaking of Hermes Equity Ownership Services Limited.

  1. Hermes Equity Ownership Services Limited(voting rights held in this issuer: 1.384%)
  2. Hermes Investment Management Limited (voting rights held in this issuer: 0.00%)

Please see Section 13 for further information.
Proxy Voting:
10. Name of proxy holder: Hermes Equity Ownership Services Limited
11. Number of voting rights proxy holder will cease to hold: See Comment in Section 13
12. Date on which proxy holder will cease to hold voting rights: See Comment in Section 13
13. Additional information:

Hermes Equity Ownership Services Limited holds the voting rights under a standing proxy contained in agreements for the provision of voting services to various underying clients for the purposes of DTR 5.2.1(h).

This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1(e).
14 Contact name: Biaanca da Silva/Margaret Moss
15. Contact telephone name: 020 7680 2163/020 7680 2125

Enquiries:

  • Rob Bailhache & Nick Henderson, Financial Dynamics +44 (0) 20 7269 7200 (Media Relations)
  • Sacha Macintosh, ACP Capital UK LLP +44 (0) 844 800 4530
  • Philip Secrett/ Fraser Campbell, Grant Thornton Corporate Finance (NOMAD) +44 (0) 20 7383 5100
  • Simon Atkinson/ Simon Stilwell, Liberum Capital Limited (Financial Adviser and broker) +44 (0) 20 3100 2000

About ACP Mezzanine

ACP Mezzanine Limited is a Jersey-incorporated, closed ended investment company quoted on AIM. It is a provider of sub-investment grade finance to European small and mid-sized enterprises – with a primary focus on the UK, France, Germany and Italy – originating, structuring and underwriting the majority of its investments through ACP Capital Limited and ACP Capital’s European network. ACP Mezzanine aims to optimise risk-adjusted returns by actively managing its portfolio and to distribute at least 85% of profits as dividends.