EANS-Adhoc: shaPE Capital AG / Year-end results 2010

--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------

annual report

08.04.2011

Freienbach, 8 April 2011 - Total net assets of CHF 139.1 million,
-2.9% year-on-year. - Net asset value per share CHF 186.64, +8.8%
year-on-year. - Net current assets of CHF 20.8 million and commitment
coverage at 88.4%. - Implementation of realization strategy on track:
Proposed distribution of CHF 25 per share intended to be paid out of
general legal reserves from capital contributions. - Cancellation of
repurchased treasury shares, in total max. 20% of outstanding shares;
Cancellation to be approved at 2011 annual general meeting. - New
share buyback program: Repurchase and cancellation of up to 20% of
shares outstanding to be approved at 2011 annual general meeting.

In 2010, shaPE Capital AG ("shaPE", the "Company") continued with the
implementation of the realization strategy announced in September
2009. Throughout the year, eight fund interests were sold without
significant impact on net assets due to improved conditions in the
secondary market for private equity partnership interests. As a
result of these sales as well as funded capital calls of the
remaining private equity partnerships unfunded commitments decreased
from CHF 96.8 million to CHF 37.1 million over the reporting period.
At the same time net current assets increased to CHF 20.8 million per
year end, up from CHF 7.5 million as of the beginning of the year.
Consequently, commitment coverage, measured as net current assets
(CHF 20.8 million) plus available credit line (CHF 12 million)
relative to unfunded commitments increased from 7.7% up to 88.4% over
of the year.

The board of directors of shaPE is of the opinion that the cash
position in combination with the mature and now net cash flow
positive underlying private equity portfolio allows shaPE to enter
the next phase of the realization strategy and - in addition to
continued share buybacks - to return cash to shareholders.
Consequently, the board of directors will propose a distribution of
CHF 25 per registered share at the annual general meeting on 3 May
2011. The board of directors intends to pay this distribution from
the Company´s general legal reserves from capital contributions,
making it exempt from Swiss withholding tax of 35% and from income
tax for private shareholders resident in Switzerland who hold the
shares as part of their private assets.

The Company so far repurchased 162´862 treasury shares representing
19.16% of share capital. Shareholders will be asked to approve the
cancellation of these shares as well as of further repurchased
treasury shares (however not exceeding the maximum amount of 170´000
shares) at the ordinary annual general meeting on 3 May 2011. As of 1
January 2011 the capital contribution principle is effective.
Therefore, as of 1 January 2011 share buybacks are generally exempt
from Swiss withholding tax as long as reserves for treasury shares
are built at the expense of the legal reserves from capital
contributions. For shares sold on the second trading line shaPE will
as of now build the respective reserves for own shares at the expense
of the legal reserves from capital contributions and therefore as of
11 April 2011 (effective date of the change), no withholding tax will
be deducted anymore on sales of shares over the second trading line.
Additional information on the change will be published Monday, 11
April 2011 on the shaPE website.

As the current share buyback program terminates in June 2011, the
board of directors proposes to initiate a new share buyback program.
Subject to regulatory and shareholder approval, the maximum buyback
limit is proposed to be set at 20%.

The full annual report 2010 is available on www.shape-capital.com.

end of ad-hoc-announcement ==========================================
====================================== shaPE is a SIX Swiss
Exchange-listed investment company with exposure to a global private
equity portfolio built over the past years. In 2009 shaPE decided to
initiate a realization strategy with the ultimate goal to return the
intrinsic value of the current portfolio to its shareholders. Under
this realization strategy shaPE does not make any new commitments to
private equity funds, but focuses on harvesting the value of the
current portfolio over the coming years. shaPE is listed on the SIX
Swiss Exchange under the ticker symbol “SHPN”.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: shaPE Capital AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Dr. Simon Lamprecht
shaPE Capital AG
Wolleraustrasse 41a
8807 Freienbach
Phone: +41 58 596 12 96
Fax: +41 58 596 12 97
E-mail: info@shape-capital.com
Internet: www.shape-capital.com

Branche: Financial & Business Services
ISIN: CH0012885841
WKN: 765355
Börsen: SIX Swiss Exchange / official dealing