SHAREHOLDER UPDATES
Q2 2008 Shareholder Presentation
EUROPEAN CAPITAL NEWS
European Capital Realises 53% Equity Return from Sale of Portfolio Company Avery Weigh-Tronix
European Capital Invests €30 Million in CEPL
RECENT PRESS COVERAGE
La situación actual del Mercado nos favorece, Cinco Días
La crisis impulsa al capital riesgo a invertir en deuda morosa, Diario Negocio
Jean Eichenlaub diffuse le « one-stop buy-out » en France, L'Agefi Hebdo
NEWSLETTER
European Capital's Institutional Shareholders as of 30 September 2008*
| Holder | Position | Report Date | Source |
| Wellington Management Co. LLP |
8,512,908 |
30-Jun-08 |
Sum of Funds |
| Fidelity Management & Research |
5,819,600 |
31-Jul-08 |
Sum of Funds |
| Rathbone Unit Trust Management Ltd. |
2,075,500 |
15-Oct-07 |
Sum of Funds |
| Alpine Woods Capital Investors LLC |
1,825,000 |
30-Apr-08 |
Sum of Funds |
| T. Rowe Price Associates, Inc. |
1,371,624 |
30-Jun-08 |
Sum of Funds |
| CI Investments, Inc. |
549,028 |
30-Jun-08 |
Sum of Funds |
| Rensburg Fund Management Ltd. |
500,000 |
31-Mar-08 |
Sum of Funds |
| Goldman Sachs Asset Management Intern... |
438,586 |
30-Nov-07 |
Sum of Funds |
| Duemme SGR SpA |
108,400 |
31-Dec-07 |
Sum of Funds |
| Evergreen Investment Management Co., ... |
96,774 |
30-Apr-08 |
Sum of Funds |
| Cazenove Capital Management Ltd. |
87,600 |
31-Dec-07 |
Sum of Funds |
| INVESCO PowerShares Capital Managemen... |
27,919 |
30-Apr-08 |
Sum of Funds |
| ALPS Advisers, Inc. |
24,216 |
30-Jun-08 |
13F Form |
| Red Rocks Capital LLC |
6,610 |
30-Jun-08 |
Sum of Funds |
Total ECAS shares outstanding as of 30 September 2008: 106,812,816
*Source: FactSet. Filings processed through 30/9/08.



