Issue of Equity

Hargreave Hale AIM VCT 1 Plc
(the "Company")
28 May 2010
Allotment of Shares under Offer for Subscription


Further  to an offer for  subscription of new ordinary  shares of 1p each in the
Company and Hargreave Hale AIM VCT 2 Plc (the "Ordinary Shares") to raise up to,
in  aggregate £10 million (the "Offer")  pursuant to a prospectus dated 19 March
2010, the  Company  announces  an  allotment  on 28 May 2010 of 305,645 Ordinary
Shares in the Company pursuant to the Offer.

The  offer  price  at  which  the  Ordinary  Shares were allotted was 64.48p per
Ordinary  Share, which was calculated by reference  to the net asset value of an
Ordinary  Share in  the Company  on 21 May  2010 (as announced  on 24 May 2010)
divided by 0.95 (to allow for issue costs of 5.00 per cent).

Following  the  allotment,  the  total  number  of  Ordinary  Shares in issue is
26,845,205 excluding shares held as treasury shares.

Dealings  in the Ordinary Shares so allotted  are expected to commence on 8 June
2010. CREST  accounts are expected to be credited as soon as practicable days of
allotment and definitive documents of title are expected to be despatched within
15 business days of allotment.


For further information please contact:

Stuart Brookes
Company Secretary - Hargreave Hale AIM VCT 1 Plc
Tel [phone]
[e-mail]




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