Offer for Subsciption and Issue of Prospectus

Investec Structured Products Calculus VCT plc

Offer for Subscription and Issue of Prospectus

The board of Investec Structured Products Calculus VCT plc ("the Company") is
pleased to announce the launch of an offer for subscription for new ordinary
shares of 1p each in the capital of the Company to raise up to £10 million
("the Offer"). The Offer opens today and will close on 10 December 2010 (unless
fully subscribed by an earlier date or otherwise extended or closed at the
Directors' discretion). The Offer is open to existing shareholders and new
investors.

Full details of the Offer are contained in the summary, securities note and
registration document, which together constitute a prospectus ("the
Prospectus"), which was published by the Company today, has been submitted to
the Financial Services Authority and will shortly be available for inspection
at the National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do

For further information, please contact:

Investment Manager to the Structured Products Portfolio

Investec Structured Products

Gary Dale

Telephone: [phone]

Investment Manager to the Venture Capital Portfolio

Calculus Capital Limited

Susan McDonald

Telephone: [phone]