Issue of Equity

Keydata AIM VCT PLC
22 November 2004


KEYDATA AIM VCT PLC


Allotment of Shares

The Board is pleased to announce that in accordance with the terms of the Offer
for Subscription dated 10 September 2004 (the 'Offer'), a further 1,774,638
ordinary shares of 1 pence each were allotted on 19 November 2004 at 100 pence
per share.

Application has been made for the admission of the 1,774,638 ordinary shares to
the Official List of the UK Listing Authority and to trading on London Stock
Exchange plc's market for listed securities.

Total shares allotted to date by the Company now total 3,271,054 ordinary
shares.

The Board has also agreed to extend the Offer beyond the Initial Closing Date of
30 November 2004.


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