Albion Ventures wins VCT of the Year 2009

Date: 7/10/2009

Mi-Pay is pleased to announce that one of our key investors, Albion Ventures has won "VCT of the Year (UK) 2009" at the Investor All Stars Awards. This is one of the most important events in the venture capital calendar which recognises the leading investors and risk takers.

"We at Albion believe that this prestigious award reflects, above all, the hard work and entrepreneurial drive of the management teams we back. We would like to thank all of you and we look forward to continuing to work with you in the future."

The VCT of the Year 2009 award was open to all Venture Capital Trusts (VCTs) and European tax driven structures including FCPIs (Fonds Commun de Placement dans l'Innovation) and other Government promoted investment funds where there is tax relief for private investors.

The Investor All Stars Awards Judging Panel cited:

"Albion showed a high level of activity during the past 12 months, and has also completed their own MBO from Close Brothers in January. With 13 new investments during the year, and one great exit with Grosvenor Health, the new Albion team clearly impressed the judges."

Albion Ventures was also shortlisted for the Exit of the Year award category for the sale of Grosvenor Health Ltd to Serco Plc.

In addition, we are pleased to announce that Albion Ventures has been nominated for VCT Manager of the Year at the "unquote" British Private Equity Awards to be held on 5 November 2009.

Mi-Pay's Managing Director, Norman Frankel stated "We are truly delighted that Albion have won this prestigious award. Albion Ventures heavily invested in Mi-Pay and continues to support our ongoing development and growth, which is a statement of their confidence in our success. We wish Albion Ventures the best of luck for the British Private Equity Awards and are delighted to have such strong investors on our team."