Issue of Equity

Elderstreet VCT plc
3 June 2008

Issue of Equity

The Directors announce that the Company has made the following
allotment under the Offer for Subscription made on 4 February 2008
("the Offer") in accordance with the pricing formula set out in the
prospectus.

On 2 June 2008, 103,712 Ordinary Shares of 5p each were allotted
under the Offer at a price of approximately 91.43p per share.

Application for the new shares to be admitted to the Official List of
the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities will be made at the earliest
practical opportunity.

The Offer for Subscription has now closed.

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