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1 Page 1 of 5 Regulatory Story Go to market news section Company TIDM Headline Released Number Doric Nimrod Air One Limited DNA Result of Placing 07:00 13-Dec X07 RNS Number : 7900X Doric Nimrod Air One Limited 13 December 2010 THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS UNLAWFUL. DORIC NIMROD AIR ONE LIMITED Announcement of the result of the Placing 13 December 2010 Doric Nimrod Air One Limited (the "Company"), a new Guernsey-domiciled closed-ended fund, is pleased to announce that monies totaling 39,625,000 have been raised pursuant to the Company's recent Placing of 39,625,000 million new Shares at an issue price of 100 pence each. Nimrod Capital LLP acted as Placing Agent to the Company. Admission of the 42,450,000 Shares of the Company to trading on the Specialist Fund Market of the London Stock Exchange plc is expected to commence at 8.00 a.m. today and on the Channel Islands Stock Exchange at 6.00p.m. today. The ISIN number is GG00B4MF3899 and the SEDOL code for the Shares is B4MF389. The shares will trade under the mnemonic DNA.

2 Page 2 of 5 Investment objective and policy The Company's investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling a single aircraft. The Company will purchase one Airbus A aircraft, manufacturer's serial number 016 which it will lease to Emirates Airlines ("Emirates"), the national carrier owned by the Investment Corporation of Dubai based in Dubai, United Arab Emirates. A senior secured financing facility, provided by Westpac, in the amount of US$122 million will provide the monies along with the placing proceeds for the acquisition of the Asset. Upon purchase of the plane, the Company will enter into a lease with Emirates for an initial term of 12 years, with fixed lease rentals for the duration. The debt portion of the funding will fully amortise over the 12 year term of the Lease, leaving the aircraft unencumbered at the conclusion of the Lease. Distribution Policy The Company aims to provide Shareholders with an attractive total return comprising income, from distributions through the period of the Company's ownership of the Asset, and capital, upon the sale of the Asset. Income distributions The Company will receive income from the Lease Rental made pursuant to the Lease. The Directors intend to target a gross distribution to Shareholders of 2.25 pence per Share per quarter (after costs and payment of any fees) subject to compliance with applicable laws and regulations. There can be no guarantee that dividends will be paid to Shareholders and, if dividends are paid, as to the timing and amount of any such dividend. It is expected that the first dividend be declared at the end of the Company's first quarter. Return of capital If and when the Company is wound-up (pursuant to a Shareholder resolution, including the Liquidation Resolution) the Company intends to return to Shareholders the net capital proceeds upon the eventual sale of the Asset subject to compliance with the Companies Laws (including any applicable requirements of the solvency test contained therein). For illustrative purposes only, on the assumption that Shareholders were to resolve to proceed with an orderly wind-up of the Company; and at the end of the Lease, if the Asset is sold for US$109,899,200 (the average market value of the Asset as forecast by three independent aircraft value appraisal firms as at the end of the term of the Lease), assuming US dollar / Sterling exchange rates are the same, and the Company has not incurred unexpected costs Shareholders would get a capital return of 161 pence per Share. There is no guarantee that the Asset will be sold at such sale price or that such capital return would be generated. Doric will regularly monitor the valuation of the Asset in the market and consider the most appropriate time for the sale of the Asset. If Doric considers that a more advantageous price may be obtained for the sale of the Asset prior to the term of the Lease expiring, Doric will consult with the Directors. The Directors, in their absolute discretion, may then convene a shareholder meeting in order to propose a Liquidation

3 Page 3 of 5 Resolution to Shareholders in such circumstances. Asset Manager Doric Asset Finance Limited has been appointed by the Company to provide asset management and remarketing services. The Doric team has a long track record of offering investment opportunities with positive long-term performance including in respect of a wide range of leasing transactions involving different aircraft types and with numerous airlines. Doric is regulated by the Financial Services Authority and is a member of ISTAT, the International Society of Transport Aircraft Trading. Emirates Emirates has grown into a successful airline with a modern fleet of aircraft. Its high quality standards notwithstanding, Emirates has become one of the world's most cost-efficient airlines. Emirates' fleet, which comprises 155 passenger aircraft (as of 17 November 2010) serves 108 destinations in 64 countries. Emirates was one of the first operators of the Airbus A380 and is the largest customer for this aircraft type. Emirates currently operates 14 Airbus A380 and has ordered a further 76 A380s (as of 17 November 2010). A The Company's aircraft is an Airbus A with manufacturer's serial number 016 equipped with four Engine Alliance GP7200 power plants. The Airbus A is the world's largest commercial passenger aircraft. In a typical three-class configuration (First, Business and Economy Class) the Airbus A has capacity for 525 passengers. Thanks to the combination of the modern Airbus fuselage with the newly developed Engine Alliance engines the Airbus A consumes less fuel per passenger compared with modern long range passenger aircraft of the same category currently in operation. The Lease The Lease has a term of twelve years and is a net rental lease pursuant to which Emirates bears all costs (including maintenance, repair and insurance) relating to the aircraft during the lifetime of the Lease. The Lease Rentals consist of Sterling Lease Rentals of approximately 4.3 million per year and US$ Lease Rentals of approximately US$15

4 Page 4 of 5 million a year and must be paid monthly in advance up to expiry of the Lease. Pursuant to the Lease, Emirates' obligation to pay is absolute and unconditional (unless there is a Total Loss of the Asset and the Company has received the applicable Termination Amount from Emirates or its insurers, together with any outstanding Lease Rentals up to the date on which the Termination Amount is paid). Nimrod Capital LLP Nimrod Capital LLP acted as Placing Agent and has been appointed as the Corporate and Shareholder Advisor by the Company. Defined terms used in this announcement shall have the same meaning as ascribed to them in the Company's Prospectus dated 8 December For further information, please contact: For administrative and company information: Anson Fund Managers Limited +44 (0) For shareholder information: Nimrod Capital LLP Richard Bolchover Marc Gordon +44 (0) This information is provided by RNS The company news service from the London Stock Exchange END ROIFMMMZNGNGGZM London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.

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