Offer for subscription

Proven VCT PLC
02 March 2005


ProVen VCT plc (the 'Company')
Offer for subscription of up to 2.2 million new ordinary shares
2 March 2005

The Board is pleased to announce the opening of an offer for subscription of up
to 2.2 million new ordinary shares in the Company (the 'Offer').  Investors can
subscribe in either or both of the 2004/2005 and 2005/2006 tax years.

Further information on the Offer can be obtained from the Company at 39 Earlham
Street, London WC2H 9LT.


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