RNS Number:0081S
Sky Capital Holdings Limited
12 November 2003


For Immediate Release
12 November 2003





                           Sky Capital Holdings Ltd


                        ("Sky Capital" or the "Company")


                           Offer for Subscription


The Board of Directors of Sky Capital, the London and New York based
Stockbrokers, is delighted to announce that it has successfully completed the
initial closing of its Offer for Subscription of Series B New Convertible
Preferred Shares, and raised #4,700,000 (approximately US $8,000,000).
Approximately 2.4 million Convertible Preferred Shares will be issued at 200
pence per Share as a result.


The funds from this initial closing will 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 the remaining shares will remain open until 21 December 2003, or
earlier if the Offer is fully subscribed for.


C. Thomas McMillen, Chairman of the Board of Directors, commented,


"The successful completion of this initial phase of the Offering will enable Sky
Capital to accelerate its business plan of building world-class stock brokerage
operations in New York and London, arguably the two most important financial
centres of the world. We look forward to successfully completing the remainder
of the Offer for Subscription."


                                     -Ends-


For further information please contact,


C. Thomas McMillen
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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