Redemption of ZDPs and Members Voluntary Liquidation

    RECOVERY TRUST PLC (the "Company")                       

The Board of the Company (the "Board") announced on 26 January 2007 that it
would not be bringing forward proposals for the continuance of the Company
beyond 15 August 2007, on which date it is obliged under the Company's Articles
of Association (the "Articles") to hold an extraordinary general meeting (the
"EGM") at which a resolution will be proposed to the effect that the Company be
wound up on that date.

The Board confirms today that in accordance with the prospectus published by
the Company in August 2001 and the provisions of the Articles it is the
intention that the redeemable zero dividend preference shares of 1p each in the
capital of the Company (the "ZDPs") will be redeemed at their full capital
entitlement of 167.74p per share shortly before 15 August 2007.

Under the Articles, the voting rights were weighted in such a manner that if,
at the EGM, the ZDPs were still in existence then any one ZDP Shareholder
voting in favour of the resolution to wind-up the Company would be sufficient
to pass such resolution and put the Company into liquidation. This mechanism
was put in place to ensure that, unless they had been redeemed, the ZDP
Shareholders would be able to ensure the liquidation of the Company at which
time they would enjoy a first call on the assets in order for them to receive
the amount they were due to receive on 15 August 2007. As the ZDPs will have
been redeemed prior to the EGM (and provided they have been so redeemed) they
will not be entitled to vote at the EGM and the only persons entitled to vote
on the resolution to wind-up the Company will be the holders of ordinary income
shares of 1p each in the capital of the Company ("Ordinary Income Shares"). The
resolution will be a special resolution and therefore unless holders of
Ordinary Income Shares representing 75 per cent. or more of those voting, vote
in favour of such resolution the resolution will not be passed and the Company
will continue in existence.

In relation to the resolution to wind-up the Company, the Board is of the
opinion that, absent any proposal from a third party to utilise the Company as
a "shell" or otherwise, being received by the date of the EGM, the Company will
not (with total net assets of approximately �6.8 million following redemption
of the ZDPs) be a viable concern bearing in mind the level of fixed overheads
it has nevertheless to bear. In the event of any such proposal the Board will
as soon as reasonably practicable make an announcement setting out the relevant
proposal. Save in the event of such a proposal, the Board believes the
redemption of the ZDPs and the winding-up of the Company described in this
announcement to be in the interests of Shareholders as a whole.

It is the intention of the Company to begin imminently the process of redeeming
the ZDPs and in due course a circular will be posted to all Shareholders which
will include notice of the EGM.

The Company was authorised by its shareholders at the annual general meeting of
the Company held on 29 November 2006 to repurchase ZDPs in the market in
accordance with the rules of the UK Listing Authority for a maximum price of
the net asset vale of the ZDPs at the date of repurchase. Subject to the Board
resolving that any repurchases of ZDPs are in the best interests of
shareholders as a whole the Company may repurchase ZDPs in the market prior to
the EGM.



END

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