India Capital Growth Fund Limited announced unaudited consolidated earnings results for the year ended December 31, 2012. For the year, the company reported investment income of GBP 537,000 against GBP 454,000 for the same period a year ago. Total income was GBP 9,837,000 against total expense of GBP 23,528,000 for the same period a year ago. Profit for the year before taxation was GBP 8,695,000 against loss for the year before taxation of GBP 25,747,000 for the same period a year ago. Profit for the year after taxation was GBP 8,695,000 against loss for the year after taxation of GBP 25,747,000 for the same period a year ago. Earnings per ordinary share were 11.59 pence against loss per share of 34.33 pence for the same period a year ago. Net cash outflow from operating activities was GBP 291,000 against GBP 695,000 for the same period a year ago.

India Capital Growth Fund Limited reported unaudited consolidated earnings results for the six months ended June 30, 2012. For the period, the company reported investment income was £151,000 against £152,000 a year ago. Profit for the period before taxation was £3,433,000 against loss for the period/year before taxation of £10,571,000 a year ago. Profit for the period after taxation was £3,433,000 or 4.58 pence per share against loss for the period/year after taxation of £10,571,000 or 14.09 pence per share a year ago.

India Capital Growth Fund Limited announced the appointment of Mr. Vikram Kaushik to the Board as an independent non-executive director with effect from June 14, 2012. He initially spent more than 16 years working for Unilever before being appointed Managing Director of Enterprise Advertising Agency and then Vice President of Britannia Industries, a manufacturer and marketer of food products. Mr. Kaushik retired from Tata Sky recently and now consults with PricewaterhouseCoopers and is Advisor to the Tata Strategic Management Groups. He is also a director of Prasar Bharati. He also serves on the Sectoral Committee for Innovation set up by the Prime Minister's Office in India. The Company also announced the retirement of Mr. Ashok Dayal (aged 75) from the Board of the Company, also with effect from June 14, 2012.