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

Trading Update

Crown Woods Funding Limited and Net Asset Value

Crown Woods Funding Limited ('Crown Woods')

On September 1, 2008 the portfolio of securities held in the Crown Woods funding facility were sold following a process of competitive auction. The proceeds raised from the sale of the securities were used to repay the third party funding against these securities. There were no surplus funds available to the Company following the repayment of the third party funding and as such the Company's investment in the Crown Woods entity on September 2, 2008 is $nil (July 31, 2008: $2.4 million and June 30, 2008: $3.2 million).

Net Asset Value

As at the close of business on July 31, 2008, Caliber's unaudited company only Net Asset Value per share ('NAV') was $0.36 (June 30, 2008: $0.40). The unaudited company only NAV excludes those non-recourse special purpose vehicles which contributed negative net assets to the unaudited consolidated NAV as at July 31, 2008. Caliber's investment in Crown Woods on July 31, 2008 was $2.4 million (June 30, 2008: $3.2 million). The company only NAV as at July 31, 2008, adjusted to exclude the investment in Crown Woods, was $0.27 (June 30, 2008: $0.27).

The unaudited consolidated NAV was $(5.41) at July 31, 2008 (June 30, 2008: $(5.29)).

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