Guernsey, 22 March 2012 - Volta Finance Limited (the "Company" or "Volta Finance") has published its semi-annual report and accounts 2012. The full report and the presentation of the semi-annual results are attached to this release and are available on Volta Finance Limited's financial website (www.voltafinance.com).

Semi-Annual Report & Accounts Highlights

Net Asset Value ("NAV") of €137.9 million (€4.46 per share) at 31 January 2012, a decline of 3.3% from €142.6 million at 31 July 2011. Overall, after taking into account the amount of dividend paid in cash during the period (€6.4 million), this reflects a positive performance of 1.2% for the period
A dividend payment of €0.22 per share for the semi-annual period from 1 August 2011 to 31 January 2012 will be made in April 2012
Net profit of the Company for the semi-annual period was €16.0 million, or €0.52 per share, taking into account recognition of the following significant items: effective income of €12.2 million; a positive adjustment of €2.3 million to previous estimates of effective income; a net positive impairment adjustment of €0.8 million on previously impaired assets; a net gain of €4.5 million on foreign exchange retranslation and revaluation of foreign exchange derivatives; a mark-to-market loss of €2.6 million on financial assets designated at fair value through profit or loss; net realised gains on sales and partial redemptions of €0.2 million; and net operating expenses of €1.3 million
The investments held by the Company generated €15.6 million of interest or coupons during the semi-annual period
Over the period, the investment strategy has been to invest cash mainly in CDOs following the stabilisation of market conditions. The cash holdings were €2.6 million at the end of the semi-annual period against €8.9 million at the beginning of the period
During the semi-annual period, the Company purchased assets for €15.3 million, sold assets for €4.0 million and redeemed assets for €0.1 million, which continued to increase its asset base
As of 31 January 2012, the Company held investments in three underlying asset classes (CDOs, Corporate Credits and ABS)
The Company intends to continue pursuing investment opportunities that are consistent with its objective of paying a dividend in line with the annual 10% objective described in the Chairman's Statement whilst at the same time increasing its asset base
Operating expenses as a percentage of average NAV for the semi-annual period ended 31 January 2012 were 0.91% compared to 1.16% for the semi-annual period ended 31 January 2011

(Full semi-annual report in attachment or on www.voltafinance.com