[ INGENIOUS NEWS]

Ingenious Solar UK EIS - Impact of changes in FiT

2 November 2011

Following the announcement from the Department of Energy and Climate Change (DECC) on 31 October 2011 regarding further changes to the Feed in Tariff (FiT), the Ingenious Clean Energy team is pleased to announce that the Ingenious Solar UK EIS investment opportunity will remain open as originally envisaged until our planned closing date of 23 March 2012.

DECC has announced a consultation on proposed reductions to every FiT band. Whilst the consultation is scheduled to run until 23 December 2011, the Government has strongly signalled that the reductions will take effect in relation to projects commissioned after 12 December 2011. In doing this they have brought forward the reduction that was widely anticipated to take effect from April 2012. Many developers of solar installations will be adversely affected by the short time frame for completion which is highly regrettable.

Our strategy for the Ingenious Solar UK EIS investment opportunity has always been to take no development or construction risk but only to acquire accredited assets. We believe through our existing relationships we can secure sufficient high quality solar installations for acquisition by the EIS companies to generate the target returns we originally anticipated. Consequently, Ingenious Solar UK EIS continues to present an attractive investment opportunity to participate in this asset class.

If you would like further information on the Ingenious Solar UK EIS offering, or anything you would like to discuss in respect of the impact of the DECC announcement, please call Jeremy Milne, Will Watts, Sebastian Speight or James Axtell on 020 7319 4000.