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A children's hospice which had £5.7m invested one the collapsed Icelandic banks has said the government had left it "high and dry".
Naomi House in Sutton Scotney, Hampshire, had the cash tied up with Kaupthing Singer and Friedlander.
The hospice said charities minister Kevin Brennan had told it in a letter "he could offer no direct assistance".
The government said it was supporting all charities in the downturn, not just those with Icelandic investments.
The charity said the news was a major setback.