Purchase of Own Securities

Elderstreet Downing VCT PLC
22 May 2001

Elderstreet Downing VCT plc
22 May 2001

Elderstreet Downing VCT plc  announces that on 21 May 2001, the Company
purchased 11,000 ordinary shares of 5p each for cancellation representing
0.07% of the issued share capital at a price of 90p per share.

Following this transaction the Company now has 15,097,500 shares in issue.