Gartmore growth opportunities raises £30 million of new assets

Gartmore Growth Opportunities plc (“GGO” or the “Company”) announces the results of the offer for subscription of conversion shares (“‘C’ Shares”) (the “Offer”).

On 26 February 2007, subscription requests for approximately £29.6 million worth of C Shares had been received. Approximately £2.2 million worth of C Shares were subscribed for at the interim close, and a further £27.4 million during the extension to the offer period. The Board has therefore allotted a further 13,757,428 C Shares (including one additional C share for every 100 shares applied for under the Offer where no commission or rebate has been claimed). There are now 14,855,298 ‘C’ Shares in issue following this allotment.

Gervais Williams, Investment Manager, said, “There are currently many attractive investment opportunities in the microcap universe of quoted companies. An over-issuance of AiM stocks during 2005 and 2006, together with the limited analytic coverage of this area, has left many stocks undervalued, especially compared with larger comparatives. I believe that a combination of these factors, together with strong stock picking skills, should provide investors with an exceptional opportunity to make good returns.”

The Chairman, David Peters, added, “The new capital structure of Gartmore Growth Opportunities is proving to be a great success with the share price closely reflecting the NAV. Shareholders can now time their transactions on the basis of the prospects of the underlying NAV of the Company, rather than a move in the share price discount. The Board continues to focus upon making GGO one of the leading Trusts in its sector, and the success of the ‘C’ Share Offer represents another step towards our objective.”