Issue of Equity

OCTOPUS PROTECTED VCT PLC (the "Company")

ISSUE OF EQUITY

13 November 2006

Octopus Protected VCT plc announces  that on Monday 13 November  2006
it issued and allotted  544,773 ordinary shares  under the Offer  for
Subscription.   The  issued  share  capital of  the  Company  is  now
3,364,793 ordinary shares.  The new shares were issued at a price  of
100p each.

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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