QUESTFOR GR-PRICAF : N.A.V. per 31/12/2011

Regulated information. This press release contains information subject to the transparency requirements imposed on listed companies.

Press release

Leuven / 4 January 2012 / 5.40 PM

Schedule for publication on 4 January 2012: 5.40 PM press release available at www.questforgrowth.com

QUEST FOR GROWTH

Privak, fixed capital investment company established under Belgian Law

NAV per share on 31/12/2011: € 7.90

For further information: QUEST MANAGEMENT NV

Mr. Marc Pauwels - Fund Administrator

Phone: [phone]

Fax: [phone] [e-mail]

The net asset value of Quest for Growth was € 7.90 per share on 31 December 2011 (based on 11,529,950 shares). The net asset value on 31 December 2010 was € 8.99 per share (based on 11,789,950 shares). On 31 December 2011 the share price closed at € 4.75 per share (31 December 2010: € 5.31 per share).

	Stock Price Net asset value/share
So urce: Estimate by Quest M anagement NV The net asset value is calculated after dividend distributio n and witho ut taking into acco unt the different dividend rights pertaining to the different classes o f shareho lders. The full po rtfo lio o verview o n 31December 2011is available o n the website.

This announcement is not an offer to sell or a solicitation of an offer to buy any securities in the above companies in which QUEST FOR GROWTH has invested. This announcement appears solely as a matter of record.
The securities of the companies referred to in this document have not been registered with the United States Securities Act of 1933, and may not be offered or sold in the United
States other than pursuant to an effective registration statement or an applicable exemption from registration.
This press release may contain forward-looking statements that involve risk and uncertainty. Although QUEST FOR GROWTH believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, no assurance can be given that such projections will be fulfilled. Any such forward-looking statement must be considered along with knowledge that actual events and results may vary materially from such predictions due to, among other things, political, economic or legal changes in the markets in which the companies in which QUEST FOR GROWTH invests do business or the stock markets in which these companies are listed. Readers are referred to the prospectus, which was issued at the time of the IPO
that identifies the important risk factors proper to QUEST FOR GROWTH.

QUEST FOR GROWTH NV

Privak, fixed capital investment company established under Belgian Law

Lei 19 - box 3, B-3000 Leuven - Phone: [phone] - Fax: [phone]

www.questforgrowth.com [e-mail]