Issue of Equity

OCTOPUS PROTECTED VCT plc (the "Company")

6 March 2007

ISSUE OF EQUITY

Octopus Protected VCT plc announces that at a board meeting held on 5
March 2007, 913,016 Ordinary Shares of 10 pence each were issued  and
allotted to 74 subscribers  at a price of  100 pence per share  under
the Offer for Subscription.  The current issued share capital of  the
Company is now  9,320,438 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

---END OF MESSAGE---