Dividend Declaration

Close Brothers Dev VCT PLC
11 May 2006


                       CLOSE BROTHERS DEVELOPMENT VCT PLC


The Board of Close Brothers Development VCT announces that the unaudited NAV per
share at 31 March 2006 was 106.9p per Ordinary Share and 109.1p per C Share.  If
the NAV had been calculated at 11 May 2006, after taking into account the
subsequent share price movement of one AIM quoted investment, the NAV would have
been 99.2p per Ordinary Share and 107.7p per C Share.

The Board also declares a first interim dividend of 1 penny per Ordinary Share
and 1.5 pence per C Share.  The dividend will be payable on 19 June 2006 to
those shareholders on the register on 19 May 2006.


11 May 2006


For further information:

Patrick Reeve   Close Venture Management       Tel: [phone]



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