Directorate Change

Close Brothers Dev VCT PLC
02 January 2008

                       Close Brothers Development VCT PLC

                             Retirement of Director



The Board of Close Brothers Development VCT PLC announces that, with effect from
31 December 2007, Mr Roderick Davidson has retired from the Board as Chairman.

The Board would like to thank Mr Davidson for his invaluable contribution to the
Company over the past nine years, and wish him a very long and happy retirement.

Geoffrey Vero was appointed Chairman of the Board of Close Brothers Development
VCT PLC with effect from 31 December 2007.



2 January 2008

For further information please contact:

Patrick Reeve, Close Ventures Limited 020 7422 7830.




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