Issue of Equity

Proven Growth and Income VCT plc
5 April 2010

Issue of Equity

The  Directors announce that the Company  has made the following allotment under
the Linked Offer for Subscription made on 20 November 2009 ('the Offer').

On  5 April 2010, 610,679 D Shares of 1p each were allotted under the Offer at a
price of £1 per share.

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.



[HUG#1400556]