AGM Statement and NAV

British Smaller Companies VCT PLC
02 August 2006


BRITISH SMALLER COMPANIES VCT PLC ('the Company')


ANNUAL GENERAL MEETING and NET ASSET VALUE


The Company is pleased to announce that all the resolutions were passed at its
Annual General Meeting and that all the Special Resolutions were approved at the
Class Meetings of the C and Ordinary Shareholders, all of which were held on 1
August 2006.


Further progress was reported in respect of the Investment Portfolio that has
resulted in the Total Return (Net Asset Value plus cumulative dividends) for the
Ordinary Shares, increasing from 128.0 to 128.4 pence per share, in the quarter
ending 30 June 2006.  Following payment of the final dividend the Net Asset
Value per Ordinary Share will be 94.9 pence.


At the same date the Total Return in respect of the C shares is 97.9 pence per
share and the Net Asset Value is 97.4 pence per share.


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