Lyxor/Scott's CoveSp - Transfer of Trading-Amend

RNS Number:2842M
Lyxor/Scott's Cove Special Credits
22 January 2008

The following replaces the announcement released on the 3rd January 2008 at 16.47,
RNS NR: 0590L. The full amended text appears below.

STOCK EXCHANGE ANNOUNCEMENT - FOR IMMEDIATE RELEASE

Lyxor/Scott's Cove Special Credits Fund Limited

Re: Transfer of Trading Advisory functions to Katonah Scott's Cove
Management LLC

January 22nd , 2008
_________________________________________

The Directors of Lyxor/Scott's Cove Special Credits Fund Limited (the "Fund")
wish to announce that with effect from January 1st, 2008 (the "Transfer Date"),
Scott's Cove Capital Management LLC currently trading advisor for the Fund has
transferred its fund management business to Katonah Scott's Cove Management LLC,
including its trading advisory functions performed for the Fund.. This transfer
has been effected pursuant to:

1. A Termination Agreement (the "Termination Agreement"), dated January
1st, 2008 between Lyxor Asset Management S.A., Scott's Cove Capital Management
LLC, Lyxor/Scott's Cove Special Credits Fund Limited and SG Hambros Fund
Managers (Jersey) Limited. The Termination Agreement has terminated the
appointment of Scott's Cove Capital Management LLC as trading advisor to the
Fund and

2. A New Trading Advisory Agreement dated December 31st, 2007 and
effective on January 1st, 2008 between Lyxor Asset Management S.A., Katonah
Scott's Cove Management LLC, Lyxor/Scott's Cove Special Credits Fund Limited and
SG Hambros Fund Managers (Jersey) Limited, has appointed Katonah Scott's Cove
Management LLC as the new trading advisor to the Fund.

As a consequence of the execution of the Termination Agreement the Old Trading
Advisory Agreement dated October 29th, 2004 has been terminated. The material
terms and conditions of the New Trading Advisory Agreement remain unchanged from
the Old Trading Advisory Agreement ("Old TAA") except that any section of the
Old TAA which applied to Scott's Cove Capital Management LLC are now applicable
under the New TAA to Katonah Scott's Cove Management LLC. Pursuant to the New
Trading Advisory Agreement Katonah Scott's Cove Management LLC has full
authority for decision relating to the investment of the principal investment
portfolio.

Katonah Scott's Cove Management LLC, is a limited liability company organized
under the laws of the state of Delaware , having its registered office, at the
date hereof, at 2711 Centerville Road Suite 400 Wilmington DE 19808. As of
January 1st, 2008 it is expected that Katonah Scott's Cove Management LLC will
hold assets under management of US $ 76 million. Katonah Scott's Cove Management
LLC is a wholly-owned subsidiary of Kohlberg Capital Corporation ("KCAP") a US
holding company and a closed-end investment company that has elected to be
regulated as a business company under the Investment Company Act of 1940 as
amended; KCAP is publicly-traded on the Nasdaq Global Market and as of September
30th, 2007 KCAP had approximately US$ 2.1 billion of assets under management.

Enquiries:

Dillon Eustace Moira Troy +353 1 667 0022

This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange.

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