Tower Gate Capital Limited
LSE : TGCP

February 03, 2010 10:13 ET

Trading Update to 31 December 2009

3 February 2010

                                          TOWER GATE CAPITAL PLC
                                      TRADING UPDATE 31 DECEMBER 2009


Tower Gate Capital PLC ("Tower Gate Capital" or the "Company") provides an update on its activities for the
quarter to 31 December 2009.

The  3  months ended 31 December 2009 remained difficult. The Group continued to trade at a loss and little
new progress was made. Overheads were tightly controlled, with cost cutting in December 2009. These will be
carefully  monitored  throughout the coming year. The Medoco litigation is  ongoing  with  the  case  being
scheduled for hearing in May 2010, where we anticipate recovering an element of our costs expended.

The  Directors however remain upbeat as regards the year ahead. Cost reductions should feed through to  the
bottom line, alleviating working capital pressures. The Group has won  new mandates since the start of  the
year  and  the  value of its investment in AUE is expected to grow, with the increase in its production  of
oil. The Group's investment in mCentric, the twitter type product for football fans is expected to generate
value  with the likelihood of more Clubs signing up, following the Real Madrid signing. Finally, the  Group
is continuing to work on other and new investment opportunities, including more in the energy space.

The  Group  remains flexible and tightly controlled, open for new opportunities, and continues to  actively
explore new mandates and investment opportunities. Although long-term growth of its investments is the  key
aim, the advisory mandates are important to maintaining a stronger working capital base. The Directors  are
working  hard  to  develop this side of the business in this challenging climate. The  Hudson  family  have
indicated their willingness to support the Group and the Company in a form of a secured loan note  facility
as described in the last audited financial statements.



Mr M Hudson
Chairman
3 February 2010





THE DIRECTORS OF THE ISSUER ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT

                                                 --ENDS--

CONTACT DETAILS:

Tower Gate Capital Plc:          Michael Wright           Tel: 020 7409 0500

Fisher Corporate Plc:            Carolyn Hazard           Tel: 020 7388 7000

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