For Immediate Release14 January 2010

                     Performance of Funds - Monthly Update


The  following table  gives the  monthly performance  for the  month of November
2009 of the funds managed by the Group's subsidiary Shore Capital Limited, other
than products where monthly statistics are not available.

The table below shows returns for the month:


 Fund                                      Total return since inception
                          Nov 2009   Jan -                            %   IRR
                                   % Nov %                              % p.a



 PARF £class                     0.3  13.1                         50.5   6.4

 Puma Sphera                     2.1  33.3                         46.7  13.6

 Puma VCT                        0.0   4.9                         47.3  13.6 *

 Puma VCT II                     0.0   4.8                         47.5  14.1 *

 Puma VCT III                   -0.1   1.5                         38.3  14.3 *

 Puma VCT IV                    -0.1   1.3                         36.8  14.3 *

 Puma VCT V                     -0.2   3.4                         35.8  28.7 *

 Model Portfolio Growth          1.1  16.3                         42.7   4.6

 Model Portfolio Balanced        0.8  13.5                         61.2   6.3

 Multi-Manager Growth            0.8  23.1                         93.1  10.8

 Multi-Manager Income            0.2  17.1                         34.1   5.6

 AIM IHT                         3.1  34.7                         30.4  6.44

* Total return and IRR include the effect of the tax relief gained upon initial
investment.

Further  details of  these funds  including inception  dates and  strategies are
given in the Group's 2008 Annual Report and Accounts. The returns of all managed
fund  products are after  an accrual for  any carried interest  and are net of a
provision  for  all  management  fees  and  expenses.  The returns for the model
portfolios and multi-manager products are gross.

Total  funds under management as at the end of November 2009 were £1.36 billion,
equivalent at that date to $2.23 billion.















Enquiries:

Shore Capital

Graham Shore020 7408 4090
Craig Cowan

Citigate Dewe Rogerson:
Angharad Couch020 7638 9571
Lindsay Noton


Notes to Editors


Shore Capital



 1. Shore  Capital  is  a  AIM-listed  independent investment banking group.  It
    specialises  in equity capital  market activities and  fund management.  The
    ECM division offers a wide range of services for companies, institutions and
    other  sophisticated clients  including corporate  finance, stockbroking and
    market  making.   Shore  Capital  Limited  manages  specialist funds, with a
    particular focus on alternative asset classes.


 2. Shore  Capital is based  in London, Liverpool,  Edinburgh and Berlin.  Shore
    Capital  Stockbrokers Limited, Shore Capital and Corporate Limited and Shore
    Capital  Limited  are  authorised  and  regulated  by the Financial Services
    Authority.   Shore Capital  Stockbrokers Limited  is a  member of the London
    Stock Exchange.


 3. Further information on Shore Capital, its products and services can be found
    at www.shorecap.co.uk.





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