Rule 8.1- Elderstreet VCT plc

Elderstreet VCT PLC
14 December 2006

          DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES

                  FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS

        (DISCLOSURE UNDER Rules 8.1(a) and (b)(i) of the Takeover Code)



1.         KEY INFORMATION


Name of person dealing (Note 1)                Elderstreet VCT plc

Company dealt in                               Elderstreet VCT plc

Class of relevant security to which the        Ordinary 5p shares
dealings being disclosed relate (Note 2)

Date of dealing                                14 December 2006




2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE



(a)        Interests and short positions (following dealing) in the class of
relevant security dealt in (Note 3)


                                                             Long                              Short


                                               Number                           Number
                                                          (%)                              (%)

(1) Relevant securities


(2) Derivatives (other than options)


(3) Options and agreements to purchase/sell


Total





(b)        Interests and short positions in relevant securities of the company,
other than the class dealt in (Note 3)


Class of relevant security:                                  Long                              Short


                                               Number                           Number
                                                          (%)                              (%)

(1) Relevant securities


(2) Derivatives (other than options)


(3) Options and agreements to purchase/sell


Total





(c)        Rights to subscribe (Note 3)


Class of relevant security:                   Details







 3.         DEALINGS (Note 4)



(a)        Purchases and sales


Purchase/sale                          Number of securities                  Price per unit (Note 5)


 Purchase (for cancellation)            240,000                              63.5p





(b)        Derivatives transactions (other than options)


Product name,         Long/short (Note 6)       Number of securities (Note 7)       Price per unit (Note 5)
e.g. CFD






(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product name,         Writing, selling, Number of securities  Exercise   Type, e.g.      Expiry     Option money
                        purchasing,     to which the option              American,
e.g. call option      varying etc.      relates (Note 7)      price      European etc.   date       paid/received per
                                                                                                    unit (Note 5)





(ii)        Exercising


Product name, e.g. call option         Number of securities                 Exercise price per unit (Note 5)




 (d)        Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)         Details                              Price per unit (if applicable) (Note 5)








4.         OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating
to the voting rights of any relevant securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.


Is a Supplemental Form 8 attached?              NO


Date of disclosure                                                14 December 2006

Contact name                                                      Grant Whitehouse

Telephone number                                                  0207 416 7780

Name of offeree with which associated                             Elderstreet Millennium Venture Capital Trust plc
Specify category and nature of associate status (Note 10)         Company Secretary





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