CapMan estimates approx. 15% decline in the fair value of


CapMan Plc Stock exchange release 18 December 2008 at 9.58 a.m EET

CapMan Plc estimates that the fair value of investments it has made
from its own balance sheet in funds that it manages will decline by
approx. 15% in the last quarter of the year. The fair value of CapMan
Plc's own investments on 30 September 2008 amounted to MEUR 59.8. The
estimated decline will have an impact on CapMan Plc Group's result
for 2008 but not on the Group's cash flows. As a result of the fair
value change, CapMan Plc Group expects to post a loss for 2008. The
final change in the fair value of the investments for the last
quarter of 2008 will be published on 29 January 2009 when CapMan Plc
publishes its financial statements bulletin for 2008.

Of the fund investments made by CapMan Plc, over one-half are in the
CapMan Buyout VIII and CapMan Equity VII funds managed by CapMan,
which invest in Nordic mid-sized buyouts. The fair values of
portfolio companies are determined in accordance with International
Private Equity Valuation Guidelines (IPEVG). In addition to the
companies' own financial status, the multiples of portfolio
companies' listed peers significantly affect fair value evaluations.

For more information, please contact:
Heikki Westerlund, CEO, CapMan Plc, tel. +358 207 207 504 or +358
50 559 6580.


CAPMAN PLC


Mari Reponen
Communications Director
Investor Services

DISTRIBUTION
Helsinki Stock Exchange
Principal media
www.capman.com


CapMan  www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic
countries and Russia and manages private equity funds with
approximately EUR 3.2 billion in total capital. CapMan has six
investment areas (CapMan Buyout, CapMan Technology, CapMan Life
Science, CapMan Russia, CapMan Public Market and CapMan Real Estate),
and each of them has a dedicated team and funds. Altogether CapMan
employs 140 people in Helsinki, Stockholm, Copenhagen, Oslo and
Moscow. CapMan was established in 1989 and its B shares have been
listed on the Helsinki Stock Exchange since 2001.
CapMan estimates approx. 15% decline in the fair value of its fund investments in the last quarter of 2008
