Final Results

Keydata Income VCT 1
                  

KEYDATA INCOME VCT 1 plc

Preliminary Announcement of Final Results for the period ending 28 February 2006

Financial Highlights

                              Period to 28 February
                                               2006
Capital Values:
Net assets (£000)                            4,303
Net asset value per share                   95.33p
Share price (bid)                              90p
Discount                                       5.6%
Earnings per share:                          0.41p
Total expense ratio                           2.12%

Chairman's Statement

Introduction

This is my first annual statement as Chairman of Keydata Income VCT 1 which
covers the period from date of incorporation on 16 February 2005 to 28 February
2006. I would like to welcome you as a shareholder and thank you for your
support in the launch of the VCT.

The Initial Offer for Subscription closed on 30 June 2005 with gross funds
raised of around £4.51 million from 575 investors. The costs of the launch were
set at 5 per cent of the gross funds raised and the net proceeds retained by the
company were £4.28 million with an initial asset value per share of 95p.

Results and Investments

The Investment Manager, Green Power 1 did not make any investments during the
period.

Earnings per share for the period were 0.41p per share (based on the weighted
average number of shares in issue during the period). The net asset value per
share at 28 February 2006 was 95.33p, a 0.35% increase on the initial NAV of
95p.

Funding

We are pleased to have obtained shareholder approval on 8 November 2005 to a
further share offer for subscription of ordinary shares. The offer closed on 5
April 2006 with net funds raised of around £2.65 million. In total, the Company
has around £6.9 million to invest.

Dividends

An interim dividend was declared on 16 March 2006 of 0.33 pence per share in
respect of the period

ended 28 February 2006. The dividend will be paid on 23 May 2006 to shareholders
on the register on 24 March 2006. No final dividend is proposed. In the future,
we anticipate the interim dividend being paid in December and the final dividend
in July.

Outlook

Subject to receipt of tax clearance from HMRC, the Company is contracted to
invest £4,000,000 in ten newly formed windfarm investment companies, each
intended to own and operate one wind turbine. An investment of £400,000 in each
Company will be made by way of subscription for shares and variable rate
unsecured loan notes. The Company is co-investing alongside Keydata Income VCT 2
plc on the same terms. Each windfarm is at a different stage of development with
planning permission granted and construction dates currently targeted from
August 2006.

Tax clearance was still outstanding on the date of approval of these accounts.

With total funds available for investment of £6.9 million, we anticipate being
fully invested within the next 12 months.

Shareholder Communication

The Company's daily share price can be found on various financial websites under
the EPIC code 'KIV' or on our own dedicated website at
www.keydataincomevct.co.uk

Stephen Oxenbridge
Chairman

9 May 2006

Consolidated Income Statement

                                                   For the period 16 February 2005
                                                               to 28 February 2006
                                                     Revenue   Capital       Total
                                                        £000      £000        £000

Income                                                  109                   109
                                                   -------- ----------   --------
                                                        109         -         109

Management fees                                           -         -           -
Other expenses                                          (91)                  (91)
                                                   -------- ----------   --------
Profit before taxation                                   18         -          18
Tax                                                      (3)        -          (3)
                                                    --------  --------    --------
Profit for the period                                    15                    15
                                                   -------- ----------   --------
Earnings per ordinary share (Note 2)                  0.41p         -       0.41p
The total column of this statement is the income statement of the Group.  All
 revenue and capital items in the above statement derive from continuing
 operations.

Balance sheet
Group and Company

                                        As at 28 February 2006
                                                          £000
Non-current assets
Investments                                         ----------
Current assets
Other receivables                                          25
Cash and cash equivalents                               4,301
                                                     --------
                                                        4,326
Current liabilities                                       (23)
                                                      -------
Net assets                                              4,303
                                                      -------

Equity attributable to equity holders
Called up share capital                                    45
Share premium                                           4,243
Capital reserve - realised                                  -
Capital reserve - unrealised                                -
Retained earnings                                          15
                                                     --------
Total equity                                            4,303
                                                     --------
Net asset value per share (Note 3)                     95.33p

Cash flow statement
Group and Company

                                            For the period 16 February 2005
                                                         to 28 February 2006
                                                                        £000
Profit before taxation                                                   18
Increase in receivables                                                 (25)
Increase in payables                                                     20
                                                                    --------
Net cash from operating activities

Cash flow from financing activities                                      13
Equity shares issued                                                  4,288
                                                                   --------
Net increase in cash and cash equivalents                             4,301
                                                                   --------

Statement of Changes in Equity
Group and Company

                                                                              For the period
                                                                         16 February 2005 to
                                                                            28 February 2006
                                            Share       Share     Retained       Total
                                           capital     premium    earnings
                                            £000        £000        £000         £000
Balance at beginning of period                     -           -          -               -
Changes in equity:
Profit for the period                              -           -         15              15
Issue of ordinary shares                          45       4,243          -           4,288
Issue of redeemable preference shares             50           -          -              50
Redemption of redeemable preference              (50)                     -             (50)
 shares                                       ------    ---------     -----        --------
Balance at end of period                          45       4,243         15           4,303
                                              ------     -------      -----        --------

Notes

  1 The accounts of the company are prepared in accordance with applicable United Kingdom
     law and International Financial Reporting Standards as adopted by the European Union.
  2 Earnings per ordinary share of 0.41 pence is based on a profit after taxation of
     £15,000 and on 3,567,001 ordinary shares, being the weighted average number of shares
     in issue over the period.
  3 The net asset value per ordinary share of 95.33 pence is based on net assets of
     £4,303,000 and on 4,513,628 shares, being the number of shares in issue at period
     end.
  4 The financial information set out above does not constitute the Company's statutory
     accounts for the period ended 28 February 2006. The annual report and accounts for
     the period ended 28 February 2006 will be delivered to the Registrar of Companies
     following the Company's annual general meeting.

The Annual report and accounts will be posted to shareholders shortly. Copies
may in due course be obtained during normal business hours from Keydata
Investment Services Limited, One Angel Court, London EC2R 7HJ.

The Annual General Meeting of the Company will be held at the Company's
registered office, 19 Cavendish Square, London W1A 2AW on 27 June 2006 at
11.00am.
For further information please contact:

Roddi Vaughn-Thomas
Head of Corporate Communications
Keydata Investment Services Ltd
020 7710 6923

Craig McNeil
Company Secretary
Keydata Income VCT 1 plc
0141 572 2300