25 January 2016

India Capital Growth Fund Limited (the 'Company' or 'ICGF')

Estimated Weekly Net Asset Value statement as at 22 January 2016

Net Asset Value

The Company announces its Net Asset Values per ordinary share as at 22 January 2016 were estimated to be:

(i) 70.39 pence (fully diluted)

(ii) 75.07 pence (undiluted)

The above fully diluted NAV assumes that the 37,500,710 subscription shares rights will be exercised at their subscription price of 61 pence.

These estimated weekly NAVs are provided by the Investment Manager of the Company and is, by its nature, based on incomplete and estimated data. The making of such estimates involves known and unknown risks, uncertainties and other factors which may cause the estimated results, performance or achievements to be different from any actual results, performance or achievements.

India Capital Growth Fund Limited issued this content on 25 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 January 2016 13:03:06 UTC

Original Document: http://www.indiacapitalgrowth.com/rns/view/id/650