Share purchase reserve

Second Advance Value Realisation Co 16 June 2003 SECOND ADVANCE VALUE REALISATION COMPANY LIMITED REDUCTION OF CAPITAL Second Advance Value Realisation Company Limited announces that the Royal Court of Guernsey has confirmed the reduction of the Company's share premium account by £22,907,704 from £45,815,408 to £22,907,704. As a result the Company has established a reserve available to be used for the redemption and repurchase of Redeemable Preference Shares and thereafter the repurchase of its Ordinary Shares. 16 June 2003 This information is provided by RNS The company news service from the London Stock Exchange