Offer Update

British Smaller Companies VCT PLC
18 December 2006



Date:          18  December 2006
Company:       British Smaller Companies VCT plc
Subject:       Offers for Subscription



British Smaller Companies VCT plc announces that it has published a Prospectus
to raise up to £15.375m through offers for subscription (the 'Offers').


The Offers opened on 8 December 2006 and are expected to close on 5 April 2007
in relation to the offer for subscription in respect of the 2006/2007 tax year
and on 30 April 2007 in relation to the offer for subscription in respect of the
2007/2008 tax year (or such earlier date on which fully subscribed and save that
the Directors can extend the date of the 2007/2008 offer at their absolute
discretion). The Offers are for up to 15,000,000 ordinary shares of 10 pence
each, to be issued at a price of 102.5p each, subject to a price adjustment in
the event that the net asset value of the Company's ordinary shares at the end
of the month preceding any allotment is more than 5% above or 5% below the
current published net asset value of 98.5p.


To obtain a copy of the Prospectus private investors and Financial Advisers
should call the investment adviser, YFM Private Equity, on 0800 854057.


A copy of the Prospectus is also available, free of charge, from the Company's
registered office or from:


YFM Private Equity Limited                             Howard Kennedy Solicitors
210-212 Chapeltown Road                                19 Cavendish Square
Leeds LS7 4HZ                                          London W1A 2AW


The Prospectus has been submitted to the UKLA, and will shortly be available for
inspection at the UKLA's Document Viewing Facility, which is situated at:


Financial Services Authority
The North Colonnade
Canary Wharf
London E14 5NS


For further information please contact:


David Hall       YFM Private Equity Limited
                 0800 854057




                      This information is provided by RNS
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