Net Asset Value of the Company

RNS Number : 3648E
Terra Catalyst Fund
05 April 2011

05th April 2011

TERRA CATALYST FUND
Net Asset Value of the Company
The Directors of Terra Catalyst Fund ("the Company") wish to announce that the final Net Asset Value for the Company as of 31 March 2011 was 86.1777 pence per share.
As previously advised, on 16 December 2009, Spazio Investment NV ("Spazio") delisted from the AIM market of the London Stock Exchange.
The Company previously announced that, with effect from the end of the reporting period in which the delisting occurred, the position will be carried at the Directors' best estimate of fair value. As such, with effect from 31 March 2010, the carrying value of the investment in Spazio will be reviewed by the Directors on a quarterly basis using an appropriate valuation model calibrated to estimate the realisable NAV of Spazio on an orderly liquidation basis.
The fifth quarterly review was carried out as at 31 March 2011 and the position is to be valued at a Directors' best estimate of fair value of EUR 5.5919 (equivalent to EUR 5.91 prior to the payment of a further dividend in March).
-ends-
ENQUIRIES TO:
Quintillion Ltd
Eoghan McAteer
Tel: +353 1 523 8022

Fairfax I.S. PLC
James King/Gillian McCarthy
Tel: +44 (0)20 7598 5368

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