RNS Number:5075R
Sky Capital Holdings Limited
30 October 2003




                            Sky Capital Holdings Ltd

                        ("Sky Capital" or "the Company")

                        Offer for Subscription - Update

The Board of Sky Capital is delighted to announce that Sky Capital has raised
the minimum amount required under the terms of its current Offer for
Subscription of New Convertible Preferred Shares. Approximately #3.6 million has
been raised to date which will, following closure of the Offer, be applied
towards the provision of working capital for the Sky Capital Group. This further
funding will considerably strengthen the Company's balance sheet and this, in
turn, will allow the Directors the flexibility to continue the Company's growth
strategy.
The Offer for Subscription of up to 10,000,000 New Convertible Preferred Shares
at 200p per share to raise up to #20 million before expenses will remain open
until 21 December 2003 (unless closed earlier by the Directors).

30 October 2003

                                     -Ends-

For further information please contact,

Ross H Mandell
Sky Capital Holdings Limited
Tel. 00 1 212 709 1900

Adam Reynolds / Ben Simons
Hansard Communications
Tel. 020 7245 1100





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

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