NET ASSET VALUE STATEMENT

    For immediate release: 24 October 2008

                             COBRA CAPITAL LIMITED                             

                          ("Cobra" or "the Company")                           

                           NET ASSET VALUE STATEMENT                           

The Directors of Cobra Capital Limited (AIM: COC), the small-cap investment
company, today inform the market that during the last quarter, the Company's
unaudited net asset value per share has fallen to 2.3 pence.

Peter Griffin, a director of the Company, commented:

"During the last month our portfolio of AIM listed small businesses has been
severely impacted by current market conditions and in particular, four of our
seven holdings having been marked down by 70% or more during the period. We
continue to closely monitor these underlying businesses."

For further information:

Peter Griffin +44 (0)1481 751 000

Cobra Capital Limited

Clive Carver +44 (0)20 7600 1658

FinnCap

GTH Communications +44 (0)20 7153 8035

Toby Hall/Christian Pickel



END

Cobra Capital (LSE:COC)
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