CapMan - Company Announcement

CapMan incorporates own fund investments and sells investment commitments and fund investments worth EUR 17.0 million to Gimv

CapMan Plc Stock Exchange Release 7 August 2009 at 8.41 a.m. EET
CapMan incorporates own fund investments and sells investment
commitments and fund investments worth EUR 17.0 million to Gimv

CapMan Plc and Belgian-based private equity firm Gimv have signed an
agreement according to which CapMan will divest investment
commitments and fund investments worth EUR 17.0 million to Gimv. The
sale of the commitments will reduce CapMan Plc's capital calls in the
coming years and strengthen the Group's financial position. The
direct impact of the arrangement on the Group's cash flow in 2009 is
approx. EUR 3.4 million. The arrangement does not have an impact on
Group's result. The closing of the arrangement requires i.a. the
approval of the relevant regulatory authorities. In addition, CapMan
will transfer its investment commitments and fund investments in
CapMan funds to CapMan Fund Investments SICAV SIF (CapMan Fund
Investments or feeder fund), a new company that will operate as a
feeder fund into funds managed by CapMan. Gimv has stated in its
Stock Exchange release published today that it intends to increase
its shareholding in CapMan Plc up to approx. 10%. Moreover, Gimv
states to aim at having a representative appointed on the Board of
Directors of CapMan Plc in connection with the next General Meeting,
with support from CapMan Partners B.V.

CapMan strengthens its balance sheet by selling commitments and
investments worth EUR 17.0 million

CapMan will divest investment commitments totalling EUR 13.6 million
and fund investments totalling EUR 3.4 million to Gimv. The
commitments and investments target CapMan Technology 2007, CapMan
Russia and CapMan Public Market funds as follows:


                             Uncalled  Investments to be
                       commitments to  sold 30 June 2009 Total
                        be sold, MEUR at fair value MEUR  MEUR
Fund
CapMan Technology 2007            5.8                1.7   7.5
CapMan Russia                     6.2                1.3   7.5
CapMan Public Market              1.6                0.4   2.0
Total                            13.6                3.4  17.0


As a result of the divestments, the sum of CapMan's remaining
investment commitments falls from EUR 61.9 million to EUR 48.3
million. The fair value of executed investments at 30 June 2009
changes from EUR 56.2 million to EUR 52.8 million. The transactions
will be executed at fair value and therefore they will not have an
impact on Group's result for 2009. It is expected that the
transactions will be closed during August 2009.

CapMan incorporates fund investment business

CapMan's intention to incorporate its own fund investments and to
have third party investors in the possible new vehicle to be formed
was announced for the first time in the Interim Report published on
30 October 2008.

CapMan has established a new company, CapMan Fund Investments, which
will operate as a feeder fund into funds managed by CapMan. The
incorporation of fund investments clarifies the difference between
CapMan's management company business and its fund investment
business. CapMan has transferred part of its own investment
commitments and fund investments to the feeder fund on 30 June 2009.
Moreover, CapMan will transfer also the remaining commitments and
investments made as a fund investor to the feeder fund by the end of
the first quarter of 2010. The transfers will impact the parent
company's distributable assets. The impact will depend on the fair
value of the transferring investments on the transfer date. The so
far implemented transfers have an effect of EUR -1.8 million, and in
case all investments had been transferred on 30 June 2009 the impact
would have been EUR -7.0 million.

Gimv will become the other investor in the feeder fund when the now
announced sale of investment commitments and fund investments is
closed. Gimv has already invested in CapMan Buyout VIII fund and is
committed to invest in CapMan Buyout IX fund. Gimv's intention is to
make future fund investments in CapMan funds through the feeder fund.
It also intends to re-invest a part of the potential proceeds to be
received from these investments in CapMan's future funds.

Commitments and fund investments made by Gimv will not be
consolidated with the figures of the CapMan Group. New investors may
participate in the feeder fund in future.

Gimv has today published a Stock Exchange release stating that it
owns 4.38% of shares in CapMan Plc. According to the release Gimv
intends to further increase its shareholding up to approx. 10%, which
however is, according to the release, fully dependent on the
liquidity and market price of CapMan Plc shares. Moreover, Gimv
states to aim at having a representative appointed on the Board of
Directors of CapMan Plc in connection with the next General Meeting,
with support from CapMan Partners B.V.. CapMan Partners B.V. is owned
by the Senior Partners of CapMan and it holds 5.98% of the CapMan Plc
shares and 23.24% of the voting rights."Gimv is a good cooperation partner for CapMan. As a strong European
private equity house Gimv understands the industry logic and future
opportunities. In addition to the fund investments made, we can
cooperate for example in generating deal flow for different
investment areas and in developing value creation practices", states
Heikki Westerlund, CEO of CapMan Plc. "The sale of the investment
commitments and fund investments will strengthen CapMan's financial
position in the next few years, yet at the same time CapMan maintains
its position as a substantial investor in the Group's funds,"
continues Westerlund."We have a strong belief in CapMan and its product range and we
consider this transaction a natural continuation of our existing
business relation. Apart from a different geographical focus, our
businesses are very similar. This complementarity allows for openness
and knowledge sharing between our companies," states Koen
Dejonckheere, CEO of Gimv nv.

CapMan Plc's objective is to invest in its future funds 1-5% of the
original capital depending on the fund's demand and CapMan's own
investment capacity.

For further information, please contact:
Heikki Westerlund, CEO, CapMan Plc, tel. +358 50 559 6580

CAPMAN PLC

Mari Reponen
Communications Director
Investor Services

DISTRIBUTION
Helsinki Stock Exchange
Principal media
www.capman.com

CapMan  www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic
countries and Russia and manages private equity funds with
approximately EUR 3.5 billion in total capital. CapMan has six
investment areas (CapMan Buyout, CapMan Technology, CapMan Life
Science, CapMan Russia, CapMan Public Market and CapMan Real Estate),
and each of them has a dedicated team and funds. Altogether CapMan
employs nearly 150 people in Helsinki, Stockholm, Copenhagen, Oslo
and Moscow. CapMan was established in 1989 and its B shares are
listed on the Helsinki Stock Exchange since 2001.

Gimv www.gimv.be
Gimv is a European investment company with nearly 30 years of
experience in private equity and venture capital. The company is
listed on NYSE Euronext Brussels and currently manages around EUR 1.7
billion of assets (including third party funds).
Gimv undertakes buyouts and provides growth capital to established
companies. Local teams in Belgium, France, The Netherlands and
Germany concentrate on these activities. Gimv-XL provides growth
financing to larger growth companies in Flanders. Gimv makes venture
capital investments in high tech sectors through its specialist teams
in Life Sciences, Technology and Cleantech. Its DG Infra+ fund also
focuses on infrastructure projects in the Benelux. For growth capital
investments in Russia, Gimv has a joint venture with KBC Private
Equity.