Transaction in Own Shares

Close Brothers Dev VCT PLC
16 May 2005



                       CLOSE BROTHERS DEVELOPMENT VCT PLC



The board of Close Brothers Development VCT PLC announces that it has, today,
purchased for cancellation, 13,424 C shares at 95 pence.



16 May 2005


For further information please contact:

Patrick Reeve - Close Venture Management Limited - tel: [phone]


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