Issue of Equity

OCTOPUS PROTECTED VCT plc (the "Company")

20 February 2007

ISSUE OF EQUITY

Octopus Protected VCT plc announces that  at a board meeting held  on
19 February  2007, 881,289  Ordinary  Shares of  10 pence  each  were
issued and allotted  to 66 subscribers  at a price  of 100 pence  per
share under the  Offer for  Subscription.  The  current issued  share
capital of the Company is now 8,407,422 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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