Offers for Subscription - Update

25 February 2014

Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc and Baronsmead
VCT 4 plc

Offers for Subscription - Update

On 22 January 2014 Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3
plc and Baronsmead VCT 4 plc (together the "Companies") published a Prospectus
in relation to offers for subscription for new ordinary shares of 10p each in
each of the Companies to raise, in aggregate, up to £40 million (before issue
costs) (the "Offers" and each an "Offer").

The directors of Baronsmead VCT 4 plc have been advised that, on the basis of
subscription forms received as at the close of business on 24 February 2014 and
assuming that they are all accepted, the Baronsmead VCT 4 Offer is fully
subscribed.

The Offers for Baronsmead VCT plc, Baronsmead VCT 2 plc and Baronsmead VCT 3
plc became fully subscribed on 3, 11 and 19 February 2014 respectively. On the
basis of subscription forms received as at the close of business on 24 February
2014, the Offers are now fully subscribed. Investors whose subscription forms
are received after this date will have their subscription returned in
accordance with the terms and conditions of the Offers.

The first allotment of new ordinary shares for all of the Offers is expected to
be on or around 14 March 2014. Dealings in the new ordinary shares are expected
to take place three days following allotment.

For further information, please contact:

Michael Probin - VCT Investor Relations Director

ISIS EP LLP

Telephone: [phone]