Disposal

Close Brothers Venture Cap Tst PLC
11 November 2002





Close Brothers Venture Capital Trust PLC



Disposal of two hotels and new investment initiatives





The board of Close Brothers Venture Capital Trust PLC ('CBVCT') is pleased to
announce the sale of CBVCT's investments in Premier VCT (Bristol) Limited and
Hawkwell VCT Limited, which respectively own the 96 room Express by Holiday Inn
in Bristol city centre, and the 51 bed Hawkwell House Hotel in Oxford.  The
aggregate consideration received by CBVCT for its holdings, net of sale costs,
was £10.5 million, compared to a carrying value of £10.2 million at 31 March
2002 and original cost of £7.7 million.



It is intended that the proceeds will be invested in new initiatives in the
leisure and healthcare sectors.  The first is Kew Green VCT (Stansted) Limited
which will undertake an £8.5 million project to construct and operate a 175 room
Express by Holiday Inn at Stansted Airport, with a subsequent phase
incorporating an additional 75 rooms.  The second initiative is intended to be
in a company that will build and operate a further care home for people with
learning disabilities, located in East Anglia.  Both of these investments will
be syndicated with Close Brothers Protected VCT PLC and Healthcare & Leisure
Property Fund PLC, who are also advised by Close Venture Management.



11 November 2002



For further information please contact:



Patrick Reeve               )

Henry Stanford             ) Close Venture Management 020 7426 4000

Ole Bettum                   )


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