EIL Equity Pre

 
TIDMEIL 
 
For immediate release: 12 February 2009 
 
                      EQUITY PRE-IPO INVESTMENTS LIMITED 
 
                         ("Pre-IPO" or "the Company") 
 
                                    UPDATE 
 
The Directors of Pre-IPO (AIM: EIL), the strategic pre-ipo investment company, 
today informs the market that, following a pre-audit review of its investment 
portfolio by the Directors of the Company, the Directors believe that the 
Company's unaudited net asset value as at 31 December 2008 had fallen to 
approximately 0.5 pence per share. This valuation is still subject to 
completion of the final year audit process. 
 
During the last few months, the carrying value of the Company's portfolio of 
unquoted investments has been severely impacted by exceptionally difficult 
market conditions, and in particular the lack of available growth capital 
finance. In addition certain loans that had been made to Pre IPO were called in 
without notice and much earlier than had been expected. This unexpected calling 
in of the Company's loans has meant that the Company was forced to sell its 
holding in Lorega Limited in order to meet these repayment obligations. In the 
current economic environment the sale process has proved to be very difficult. 
We have, however, realised a sufficient amount in order to meet these loan 
repayment demands. 
 
The Directors have also entered into discussions with the Company's remaining 
creditors and certain potential investors in order to achieve a further 
reduction of the Company's debts and to secure additional finance in the short 
term. The Directors are confident of successfully concluding these discussions 
and will update the market in due course. 
 
For further information: 
 
Martin Shires +44 (0)1481 751 000 
 
Jonathan Freeman +44 (0)1600 750 432 
 
Equity Pre-IPO Investments Limited 
 
Oliver Rigby +44 (0)20 7776 6550 
 
Daniel Stewart 
 
GTH Communications +44 (0)20 7153 8035 
 
Toby Hall/Christian Pickel 
 
 
 
END 
 

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