Issue of Equity

Close Brothers Dev VCT PLC
07 April 2003





                 Close Brothers Development VCT PLC 'C' Shares

                         ('Close Brothers Development')



      allots a further 30,000 'C' Shares in respect of the 2003/2004 Offer



The Board of Close Brothers Development VCT PLC is pleased to announce that
30,000 'C' Shares have been allotted under the 2003/2004 Offer taking total
shares allotted to date to 9,942,380 'C' Shares.



Dealings in the further 30,000 'C' Shares allotted in respect of the 2003/2004
Offer will commence on 8 April 2003.   These shares will rank for 50 per cent of
the interim dividend in respect of the period ending 30 June 2003.



The 2003/2004 Offer will now be extended to Friday, 30 May with dealing in the
final allotment expected to begin on 2 June. All shares allotted after 8 April
2003 will not be eligible for the interim dividend in respect of the period
ending 30 June 2003.





7 April 2003



Further enquiries:



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


John West        Tavistock Communications                     Tel: [phone]




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