Transaction in Own Shares

British Smaller Companies VCT PLC
23 March 2005


British Smaller Companies VCT plc ('the Company')

Purchase of Own Securities

The Company announces that, on 22 March 2005, it purchased 50,000 Ordinary
Shares of 10 pence each at a price of 72 pence per share.

The effect of this purchase, based on the last reported investment valuations,
and including other buybacks since that date, is to increase the net asset value
for remaining shareholders to 80.3 pence per share (31 December 2004: 80.2 pence
after the special dividend paid on 28 February 2005).


23 March 2005



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