Directorate Change

Close Brothers Dev VCT PLC
12 March 2007


                       Close Brothers Development VCT PLC

                                  Directorate


It is with great sadness that the Board of Close Brothers Development VCT
announces the death on 10 March 2007 of Frank Malcolm, who had been a director
of the Company since its launch in 1999.




12 March 2007




For further information, please contact:

Patrick Reeve, Close Ventures Limited 020 7422 7830




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