Trading Update

RNS Number:1949M
ACP Mezzanine Ltd
22 January 2008


                                 Trading Update

22 January 2008

ACP Mezzanine Limited ("ACP Mezzanine" or the "Company": ACPM.LN), the
closed-ended investment company focused on sub-investment grade lending to
European small and medium-sized enterprises ("SME"), today provides an update on
trading.

   *ACP Mezzanine has made good progress during 2007, investing the majority
    of the proceeds raised from its IPO
   *As a result, ACP Mezzanine remains confident that it will exceed its
    targeted total 2007 dividend of Euro0.09 per share
   *Management estimates that net asset value will exceed Euro1.00 per share as
    at 31 December 2007
   *Market conditions are excellent with ACP Mezzanine currently evaluating
    an origination pipeline of approximately Euro500 million of SME loan assets in
    the first quarter 2008
   *The Company will, should the pipeline stated above be realised, receive a
    capital injection of approximately Euro10 million through the exercise of call
    options by ACP Capital Limited (APL.LN) at a price of Euro1.00 per share. The
    Company also expects to undertake a further capital increase of circa Euro
    200mn shortly thereafter, with an intended parallel move of its listing to
    Euronext
   *ACP Mezzanine reiterates that it has negligible exposure to UK
    residential mortgages and no exposure to the residential mortgage sector in
    the US

ACP Mezzanine will announce preliminary results for the 12 months ended 31
December 2007 no later than 22 February 2008.

Enquiries:

Rob Bailhache & Nick Henderson, Financial Dynamics          [phone]
(Media Relations)

Sacha Macintosh, ACP Capital UK LLP                         [phone]

Chris Wells, Stewart Wallace, Collins Stewart               [phone]

For further information on ACP Mezzanine, please visit www.acpcapital.com.

About ACP Mezzanine

ACP Mezzanine Limited (LSE AIM: ACPM) is a Jersey-incorporated, closed ended
investment company listed on AIM. It is a provider of sub-investment grade
finance to European small and mid-sized enterprises - with a primary focus on
the UK, France, Germany and Italy - originating, structuring and underwriting
the majority of its investments through ACP Capital Limited ("ACP Capital":
APL.LN) and ACP Capital's European network. ACP Mezzanine aims to optimise
risk-adjusted returns by actively managing its portfolio and to distribute at
least 85% of profits as dividends. ACP Capital Limited owns 47% of ACP Mezzanine
and, through a subsidiary, acts as its investment manager.

Fundamental changes in the market, such as Basel II, are expected to accelerate
demand for alternatives to traditional bank financing in these segments. As a
non-regulated lender, ACP Mezzanine is not affected by Basel II. In line with
its strategy, ACP Mezzanine has a small exposure to the retail mortgage backed
securities sector as well as an anticipated negligible exposure to the US
(expected to be limited to certain US infrastructure assets).

By taking control of a majority of the underwriting process through ACP
Capital's investment manager, ACP Mezzanine benefits from a diversified flow of
assets whilst ensuring a risk-balanced growth.

By the end of 2009, the Company intends to have Euro550 million of assets under
management and looks set to achieve its target balance sheet mix as stated in
its admission document.




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

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