Further re Issue of Equity

Close Brothers Dev VCT PLC
06 April 2004



               Close Brothers Development VCT PLC New 'C' Shares
                         ('Close Brothers Development')


The board of Close Brothers Development VCT wishes to announce that Shares
allotted in respect of the C Shares announced on 12 March and 2 April, should
have referred to the Offer (which closed on 2 April 2004) and not to the 2004/
2005 Offer.

6 April 2004

Further enquiries:

Patrick Reeve/Ole Bettum              Close Venture Management (Manager)
Roger Bruce                           Tel. [phone]


John West                             Tavistock Communications
Ole Bettum                            Tel. [phone]


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