30 January 2008

                             Microcap Equities Plc                             

                         ("Microcap" or the "Company")                         

                              Holdings in Company                              

The Company was notified yesterday that, as at 29 January 2008, Merchant House
Group Plc holds 19,750,000 ordinary shares, representing 18.13 per cent. of the
issued voting share capital of Microcap.

For enquiries:

Microcap Equities Plc                                             020 7247 9691
                                                                               
Nicolas Greenstone                                                             
                                                                               
John East & Partners Limited                                      020 7628 2200
                                                                               
Simon Clements                                                                 



END



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