Issue of Equity

OCTOPUS PROTECTED VCT plc (the "Company")

10 April 2007

ISSUE OF EQUITY

Octopus Protected VCT plc announces that at a board meeting held on 5
April 2007, 3,453,566 Ordinary  Shares of 10  pence each were  issued
and allotted to  179 subscribers at  a price of  100 pence per  share
under the Offer for Subscription.   The current issued share  capital
of the Company is  now 27,386,926 Ordinary Shares,  all of which  are
voting shares.

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.

ENDS

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