Result of EGM

Close Brothers Dev VCT PLC
21 October 2002

                       Close Brothers Development VCT plc

Close Brothers Development VCT plc ('the Company') announces that the
Resolutions which were proposed at the Extraordinary General Meeting of the
Company held earlier today were duly passed. Accordingly, the subscription list
in connection with the Offers for Subscription will open tomorrow, 22 October
2002.


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