NAV and dividend declaration

Close Brothers Dev VCT PLC
27 March 2007

                       CLOSE BROTHERS DEVELOPMENT VCT PLC


The Board of Close Brothers Development VCT PLC announces that the unaudited NAV
per share at 28 February 2007 was 96.0p per Ordinary share and 102.0p per C
share. This excludes the dividend announced below.


The Board has also declared a first revenue dividend of 1.5 pence per Ordinary
share. The dividend will be paid on 9 May 2007 to those shareholders on the
register on 10 April 2007. This dividend will be paid to all ordinary
shareholders including the new ordinary shareholders following the conversion of
C shares to Ordinary shares on 31 March 2007 at a ratio of 1.0715 Ordinary
shares for each C share.


27 March 2007



For further information:

Patrick Reeve   Close Ventures Limited   Tel: [phone]






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