PDT Prelude Tst.

RNS Number:6199M
Prelude Trust PLC
28 January 2008


Embargoed until 07.00 on 28 January 2008


                                PRELUDE TRUST plc
                                        
                                        
                      Administrators Appointed at SiConnect



Prelude Trust plc ("Prelude" or "the Trust"), reports that Administrators from
Smith & Williamson have been appointed to SiConnect Limited. SiConnect is a
semiconductor company that has developed products for the Powerline
Communications market.


As reported in the Half Yearly Financial Report for 30 September 2007, the
Manager has been seeking a merger partner or acquirer for the business.
Investment bankers were appointed to lead the process however, despite a number
of meetings with potential buyers, no offers were received and with no further
investment funds available to the company, its directors decided to place the
company in administration.


The Net Asset Value reported by the Trust at 31 December 2007, included a
further provision in anticipation of the company entering administration. The
Trust has invested a total of �3.8 million in SiConnect including secured loans
totalling �1 million. The Trust valued its investment in SiConnect at �0.2
million at 31 December 2007.


For further information, please visit www.prelude-trust.co.uk or contact:

Alan Duncan/Jayne Tamblin              John West/Clemmie Carr       
Prelude Trust plc                      Tavistock Communications
Tel: 01223 307 770                     Tel: 020 7920 3150      
alan.duncan@dfjesprit.com              jwest@tavistock.co.uk    


Mark Ford
Smith & Williamson
Tel: 020 7131 4542
mark.ford@smith.williamson.co.uk



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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