HAO Hanover Cap

RNS Number:6247G
Hanover Capital Group PLC
24 January 2003



           Hanover Capital Group Plc Announces Investment Transaction

                     With The Jubilee Investment Trust Plc


Hanover Capital Group PLC ("Hanover Capital") announces that it has entered into
a share swap arrangement with The Jubilee Investment Trust plc, which listed on
the London Stock Exchange today. The Jubilee Investment Trust has issued
2,500,000 Ordinary Shares at #1.00 per share in exchange for 20,833,333 Hanover
Capital Ordinary Shares at 12p each. As a result of this transaction, Hanover
Capital will hold 18.5 per cent of the issued share capital of Jubilee while
Jubilee will hold 28.49 per cent of Hanover Capital Group.  Following this
transaction, Hanover Capital's issued share capital is 73,122,292 Ordinary
Shares.  Application will be made for the 20,833,333 Hanover shares to be traded
on AIM and admission is expected on 31 January 2003.



Both companies have agreed not to dispose of any of the shares which form part
of this announcement for two years.



*              Jubilee Investment Trust is an investment trust which has been
established to take advantage of unusual investment opportunities which have
arisen as a result of falling markets and consequent erosion of investor
confidence.

*               Jubilee proposes to create a diversified portfolio of shares in
companies which it believes have potential but are being neglected by investors
in current market conditions by issuing Jubilee Shares quoted on the Official
List to:

The Board considers that this balance sheet strengthening exercise will help in
any future negotiations to raise additional working capital.



                                      Ends





For further information, please contact:

Ana Ribeiro/Simon Robinson, Parkgreen Communications         020 7287 5544


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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