NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES ***** Guernsey, 30 March 2010 - Volta Finance Limited (the "Company" or "Volta Finance") has published its semi-annual report and accounts 2010. 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 Ø       Net Asset Value ("NAV") of ?85.6 million (?2.83 per share) at 31 January 2010; a significant increase of 47% from ?58.4 million at 31 July 2009 Ø       An interim dividend of ?0.13 per share for the semi-annual period from 1 August 2009 to 31 January 2010 has been declared by the Board of Directors Ø       Net profit of the Company for the semi-annual period was ?20.8 million, or ?0.69 per share, taking into account the increase in value of the previously impaired residual tranches of( )CLOs( )and the mark-to-market gains of assets held at fair value through profit or loss and derivative financial instruments Ø       The results for the semi-annual period reflect both a significant improvement in the general economic and financial situation but also the ability of the Company's assets to benefit from it Ø       The assets held by the Company generated ?7.6 million of interest or coupons in cash over the semi-annual period Ø       After a lull in investing, the Company resumed during the semi-annual period. ?31.4 million has been invested, mainly in mezzanine debt tranches of CLOs, senior tranches of Corporate Credit portfolios and short-term AAA European ABS assets.  As a consequence, the cash holding went from 47.4% of the NAV of the portfolio at the beginning of the period to 4.9% at end of January 2010 Ø       As of 31( )January 2010, the Company held investments in three Primary Target Asset Classes (CDOs, Corporate Credits and ABS) Ø       For the coming semi-annual period, the Company intends to continue investing mainly in mezzanine debt tranches of CLOs, senior tranches of Corporate Credit portfolios and short-term AAA European ABS assets, but also to switch some existing assets for similar assets with higher or less uncertain expected cash flows. The Company intends to continue being very selective when pursuing its investment strategy Ø       Operating expenses for the semi-annual period were 1.16% of the 31 January 2010 NAV. (Full semi-annual report in attachment or on www.voltafinance.com ) ***** ABOUT VOLTA FINANCE LIMITED Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Laws, 1994 to 1996 (as amended) and listed on Euronext Amsterdam. Its investment objectives are to preserve capital and to provide a stable stream of income to its shareholders through dividends. For this purpose, it pursues a multi-asset investment strategy targeting various underlying assets. The assets that the Company may invest in either directly or indirectly include, but are not limited to: corporate credits; sovereign and quasi-sovereign debt; residential mortgage loans; automobile loans. Volta Finance Limited's basic approach to its underlying assets is through vehicles and arrangements that provide leveraged exposure to some of those underlying assets. Volta Finance Limited has appointed AXA Investment Managers Paris, an investment management company with a division specialised in structured credit, for the investment management of all its assets. ABOUT AXA INVESTMENT MANAGERS AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with nearly ?500 billion in assets under management as of the end of December 2009. AXA IM employs approximately 2,857 people around the world and operates out of 21 countries. CONTACTS Company Secretary Mourant Guernsey Limited volta.finance@mourant.com +44 (0) 1481 715601 Portfolio Administrator Deutsche Bank voltaadmin@list.db.com For the Investment Manager AXA Investment Managers Paris Serge Demay serge.demay@axa-im.com +33 (0) 1 44 45 84 47 ***** This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act").  Volta Finance has not registered, and does not intend to register, any portion of any offering of its securities in the United States or to conduct a public offering of any securities in the United States. ***** This document is being distributed by Volta Finance Limited in the United Kingdom only to investment professionals falling within article 19(5) of the Financial Services and Market Act 2000 (Financial Promotion) Order 2005 (the "Order") or high net worth companies and other persons to whom it may lawfully be communicated, falling within article 49(2)(A) to (E) of the Order ("Relevant persons"). The shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the shares will be engaged only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance. ***** This press release contains statements that are, or may deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "anticipated", "expects", "intends", "is/are expected", "may", "will" or "should". They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta's investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance's actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. Volta Finance does not undertake any obligation to publicly update or revise forward-looking statements. Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved. ***** [HUG#1399424] Semi-Annual Report and Accounts 2010: http://hugin.info/137695/R/1399424/354918.pdf