Guernsey, 16 April 2010 - Volta Finance Limited (the "Company" or "Volta Finance" or "Volta") has published its March monthly report. The full report is attached to this release and is available on Volta Finance Limited's financial website (www.voltafinance.com).

Gross Asset Value At 31.03.10 At 26.02.10
Gross Asset Value (GAV / €) 97,571,728 91,911,310
GAV per share (€) 3.22 3.03

At the end of March 2010, the Gross Asset Value (the "GAV") of Volta Finance Limited (the "Company", "Volta Finance" or "Volta") was €97.6m or €3.22 per share, an increase of €0.19 per share from €3.03 per share at the end of February 2010.

The February mark-to-market variations* of Volta Finance's asset classes have been: +2.9% for ABS investments, +3.8% for mezzanine of CDO investments, +3% for residuals of CDO investments and +19.3% for Corporate Credit investments. These performances reflect some slight increases in the price of assets in almost all the asset classes. It also reflects the significant payment, relative to the fair value, of one Corporate Credit asset.

Excluding principal payments from short-term ABS investments (€0.1m in March), Volta's assets have generated the equivalent of €2.3m of cash flows in March 2010 (non-euro amounts converted into euro using end-of-month cross currency rates) bringing the total cash generated during the last six months to €8.8m (an annual rate of 19.6% of the end-of-period value of Volta's assets excluding cash and near-cash assets). This amount could be compared with €7.7m for the previous six-month period ended in October 2009 (the most recent period which is comparable considering the seasonality of payments).

In March, the Company invested only €0.5m in a residual tranche of CLO (Confluent Senior Loans Opportunity). As of the end of March the Company held €6.5m of cash, including €1.5m posted through margin calls linked to its currency hedge positions. The dividend payment (€3.9m, €0.13 per share) payable on the 6th of April will be taken form Volta's end of March cash position.

MARKET ENVIRONMENT
In March, credit spreads tightened, reflecting a stable period during which tensions on sovereign debts seem to stabilize and economic recovery, at least in the US, tends to be confirmed. The 5y European iTraxx index (series 12) and the 5y iTraxx European Crossover Index (series 12) went from respectively 84 bps and 463 bps at the end of February to 75 bps and 392 bps at the end of March. According to the CSFB Leverage Loan Index, the average price for US liquid first lien loans increased from 88.78% to 90.63%.**

It should be notice that at the end of March 2010 the CLO market re-opened with the issuance of a new CLO (USD 500 million). The debt tranches were publicly placed, not the residual tranche.

VOLTA FINANCE PORTFOLIO

In March, no particular event materially affected the situation of the Corporate Credit holdings. The first-loss positions in Jazz III and ARIA III remain highly sensitive to any credit event that could occur. At the end of March, these first-loss positions represented 60% of Volta's €19.7m Corporate Credit assets. The other Corporate Credit positions, valued for €7.8m were two senior tranches (initially rated AAA) and one mezzanine tranche (initially rated A) priced, on average, at 51.7% of par. The positive performance for this asset class is linked to the tightening of corporate credit spreads in March and to significant payments from Jazz III positions (all together the 4 positions held on Jazz III generated €1.2m of cash flows in March).

As regards the Company's investments in residual and mezzanine debt of CLOs, their situation was stabilizing after several months of improvement: the ratio of downgrades to upgrades for the underlying assets (loans) is almost stable for a quarter and defaults continued to occur but at a pace that, on average, had no material impact on their situation. At the end of March 2010, the 12 classical residual positions held by Volta (excluding Tennenbaum Opportunities Fund and Confluent that are no or low-leverage deals) were priced, on average, at 33.3% of €54.8m of par (USD nominal amounts converted into euro using end-of-month cross currency rate). The 21 mezzanine debt of CLOs held by Volta were priced, on average, at 53.3% of €61.6m of par (USD nominal amounts converted into euro using end-of-month cross currency rate).

At the end of March, from a total of 35 positions, two of the mezzanine positions (Alpstar 2A E and Cheyne Credit Opp.) and three of the residual positions (Carlyle IX, Kingsland IV and Nortwoods VIII) are still unable to pay their coupon due to overcollateralisation test breaches. The 30 other positions are currently paying.

As regards the Company's ABS investments, in March, no particular event affected the six UK non-conforming residual holdings as well as Promise Mobility, a residual position in a highly diversified portfolio of small and medium German company loans. The various investments in short-term euro ABS senior tranches held by the Company to enhance its cash management amounted to €3.2m.

The Company considers that opportunities could arise in several structured credit sectors in the current market environment. Among others, mezzanine tranches of CLOs and of European ABS or senior tranches of Corporate Credit portfolios could be considered for investments. Potential investments will be made depending on the pace at which market opportunities could be seized and cash is available. From time to time, as it was the case in January 2010, the Company could be expected to sell some previous investments in order to seize other opportunities in the market.

* "Mark-to-market variation" is calculated as the Dietz-performance of the assets in each bucket, taking into account the MtM of the assets at month-end, payments received from the assets over the period, and ignoring changes in cross currency rates Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

** Index data source: Markit, Bloomberg.

(Full monthly report in attachment or on www.voltafinance.com)

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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.