DINAMIA CAPITAL PRIVADO, SOCIEDAD DE CAPITAL RIESGO, S.A. (“ Dinamia ”), as required under article 82 of Spain's Securities Market Act (Law 24/1988, of 28 July 1988), hereby discloses the following

SIGNIFICANT EVENT

Tryo Communication Technologies, S.L. (“ Tryo ”), an investee in which Dinamia holds a 24.75% interest, has signed an agreement for the sale of 100% of its subsidiary, Teltronic, S.A.U. (“ Teltronic ”), to Sepura plc of the UK.

The sale is expected to close in the weeks to come, assuming that all the closing conditions are met.

Subject to the transaction's close and the adjustments contemplated in the sale - purchase agreement, the after - tax proceeds Dinamia is expected to receive fr om this transaction are estimated at €24 million.

For the purposes of the Dinamia dividend referred to in section 8.1 (a) of the Joint Merger Plan between Dinamia and N más Uno IBG, S.A. (approved at their respective AGMs on 29 April), it is hereby noted t hat: (i) the sale of Teltronic, this company being Tryo's main asset, is considered equivalent to the sale of Tryo itself; and (ii) the estimated transaction size for Dinamia will not trigger, considered on a standalone basis, a dividend top - up for Dinamia 's shareholders in excess of the €3 million approved at the AGM in respect of the minimum dividend payable in connection with the exits from Tryo and Estacionamientos y Servicios, S.A., notwithstanding the scope for additional exits from these two investme nts before the merger closes.

Madrid, 2 May 2015.

Federico Pastor Arnauda Chairman of Nmás1 Capital Privado SGEIC, S.A., Management Company of Dinamia Capital Privado, S.C.R., S.A.

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