AGE August Equity

RNS Number:5307L
August Equity Trust PLC
03 November 2006

AUGUST EQUITY TRUST PLC



STRATEGIC REVIEW



On 11 August 2006 the Board of August Equity Trust plc (the "Company") announced
the result of its strategic review together with its interim results for the
half year ended 30 June 2006.



In reaching its conclusions the Board had reviewed thoroughly and considered
carefully a number of options including an initial approach from a listed
private equity fund of funds to "merge" with it.  The Board, with the support of
August Equity Limited, ("the Manager" or "AEL") concluded that, on balance, the
long-term interests of the Company and its shareholders were best served by
remaining independent while conscious of the need to generate greater scale,
increasing its level of investment, implementing a #15million share buy back
programme and making a number of other changes.



Following further constructive discussion with some major shareholders, the
Board understands that a significant number of them would prefer the Board to
seek short term value for shareholders and therefore re-examine the strategic
options for the Company including the "merger" proposal from the fund of funds.



The Board is aware of a number of other interested parties also seeking greater
scale.  The Board is committed to exploring all of these options and will pursue
them, as a matter of urgency with the aim of maximising value for shareholders,
conscious that this can only be achieved with the support of AEL.





Enquiries:



John Mackie                                       020 7632 8200

Chairman, August Equity Trust plc



Richard Green                                     020 7632 8200

August Equity Limited



Angus Gordon Lennox                               020 7588 2828

JPMorgan Cazenove Limited



Mani Pillai                                       020 7786 4888

Penrose Financial





3 NOVEMBER 2006






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