Interim Management Statement -- European Capital Limited Reports 2012 Net Operating Loss Of Euro (1) Million And Net Earnings Of Euro 23 Million

Interim Management Statement -- European Capital Limited Reports 2012 Net Operating Loss Of Euro (1) Million And Net Earnings Of Euro 23 Million PR Newswire ST. PETER PORT, Guernsey, Aug. 30, 2012 ST. PETER PORT, Guernsey, Aug. 30, 2012 /PRNewswire/ -- European Capital Limited ("European Capital" or the "Company") today issues an Interim Management Statement announcing net operating income ("NOI") for the half year ended 30 June 2012 of €(1) million and Net earnings for the half year were €23 million. As at 30 June 2012, net asset value ("NAV") was €650 million, a 4%, or €23 million increase from the 31 December 2011 NAV of €627 million and a €65 million decrease from the 30 June 2011 NAV of €715 million. H1 2012 FINANCIAL SUMMARY €(1) million NOI Materially impacted by 1 particular asset put on non-accrual status €(3) million net realised loss on investments €18 million net unrealised appreciation on investments €23 million net earnings €56 million of cash proceeds from realisations €20 million of securitised debt repaid €95 million of committed investment €84 million in new portfolio companies "NAV grew by €23 million in the first half, performing better than we had expected considering the weak economy in some parts of Europe," said Malon Wilkus, Chairman and Chief Executive Officer. "In the past six months our aggregate portfolio companies experienced moderate revenue and EBITDA growth, year over year.