Offer for Subscription

Close Brothers Aim Vct PLC
19 December 2003

                           Close Brothers AIM VCT plc


Close Brothers AIM VCT plc ('the Company') announces that it is intending to
publish, in January 2004, a prospectus in connection with a proposed Offer for
Subscription of 'D' Ordinary Shares ('the Offer') for the current tax year. A
circular to shareholders in the Company in connection, amongst other things,
with the proposed Offer will be published at the same time as the prospectus.


The Company has noted the proposals published by H M Government, which would
change the taxation benefits available to investors in venture capital trusts
with effect from 6 April 2004. One such change is the possible abolition of
Capital Gains Tax deferral which, the Directors believe makes the proposed 'D'
Share offer attractive. Once these changes have been clarified, the Company
currently intends to seek shareholders' permission for a further offer for
subscription in respect of the tax year starting on 6 April 2004.


Brewin Dolphin Securities Limited will be acting as Sponsor and Marketing Agent
for the Offer.

Enquiries:

Andrew Buchanan        )     Close Investment Ltd               020 7426 4000
Kate Tidbury           )

Elizabeth Kennedy      )     Brewin Dolphin Securities          0141 221 7733
Ken Fleming            )



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