Issue of Equity

Elderstreet VCT plc
8 April 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 7 April 2008, 8,699 Ordinary Shares of 5p each were allotted under
the Offer at a price of approximately 91.96p 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 the 2008/2009 tax year will remain open until 30 May
2008 (unless previously extended or fully subscribed earlier).

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