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August 13, 2008

Caliber Global Investment Limited (the 'Company' or 'Caliber')

Interim Management Statement

for the 3 month period from March 31, 2008 to June 30, 2008

Results

• Company only NAV of $0.40 per share as at June 30, 2008 (March 31, 2008: $0.59)

• Consolidated NAV of $(5.29) per share as at June 30, 2008 (March 31, 2008: $(4.70))

• Loss for the 3 month period to June 30, 2008 of $4.7 million for the Company

• Loss for the 3 month period to June 30, 2008 of $14.5 million on a consolidated basis

Portfolio

As at June 30, 2008 the Company, on a non-consolidated basis, had gross assets of $11 million, which comprised cash of $2.7 million, securities with a market value of $4.3 million, an investment in the Crown Woods financing facility of $3.2 million and other assets of $0.8 million. The Company also had liabilities of $1.1 million, leaving net assets of $9.9 million.

As at June 30, 2008 the Company held 19 securities directly. The Investment Manager believes there is limited prospect of any substantial recovery in the market value of the Company's portfolio generally. The Investment Manager is of the opinion that lack of liquidity in the market has unduly depressed the value of three of the securities. The other securities are US sub-prime RMBS securities which had been downgraded by the rating agencies making them ineligible for inclusion in the Company's funding facilities. The Investment Manager believes that these other securities will not repay any principal in the near future and are effectively priced on an interest only basis by the independent brokers supplying marks to the Company.

Crown Woods

The Crown Woods facility entered into a further restructuring agreement in April 2008 under which all portfolio limits and test, including rating enhancement, would no longer apply and all principal, excess spread and proceeds from sales would be used first to repay interest and principal on the borrowings from the bank. The facility is scheduled to terminate on September 1, 2008. Without assuming control of Crown Woods the funding bank has the right to direct Crown Woods to sell assets and consent is required for any disposals from the portfolio.

 

As at June 30, 2008 Caliber's investment in the Crown Woods portfolio was valued at $3.2 million. Caliber's ability to realize this investment before the facility expires on September 1, 2008 is dependent on it being able to dispose of the portfolio at values close to the prices received from independent brokers for valuation purposes. The Investment Manager is of the opinion that it is unlikely to dispose of the assets close to the values received from independent brokers before the facility expires due to the lack of liquidity in the market.

Extraordinary General Meeting

The Company intends to convene an Extraordinary General Meeting to be held during September 2008 at which shareholders will be invited to approve the entry by the Company into members' voluntary liquidation and appointment of a liquidator. The board of directors feels that this is a natural progression to achieving the investment objective of returning capital to shareholders.

For further information please contact:

Investor Relations:

Cambridge Place Investment Management LLP

+44 (0) 20 7938 5713

Media:

Financial Dynamics

Ed Gascoigne-Pees

+44 (0) 20 7269 7132

About Caliber

Caliber is a Guernsey-incorporated investment company listed on the London Stock Exchange (CLBR). The investment objective of the Company is to manage the sale of the Company's investment portfolio and to maximise the return of invested capital to shareholders during the 12 months ending on August 30, 2008. Caliber's investment manager is Cambridge Place Investment Management LLP.

www.caliberglobal.com

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