Purchase of Own Securities

ELDERSTREET DOWNING VCT PLC
15 July 1999


The Directors of Elderstreet Downing VCT Plc announce that pursuant to an
authority granted by its shareholders the company has purchased a total of 5,000
ordinary shares of 50p for cancellation on 28 June 1999 at 90p per share.

Enquiries:
Downing Classic VCT Plc
Tony McGing (Tel: [phone])