Result of AGM

Downing Distribution VCT 1 plc
23 September 2010

At the Annual General Meeting of Downing Distribution VCT 1 plc, held today, all
resolutions were passed.

Details  of the proxy votes  in respect of the  resolutions passed at the Annual
General Meeting received as at 11.00am on 21 September 2010, 48 hours before the
time of the meeting (excluding weekends), at Downing Management Services are set
out below:


+--------------+----------+-------------+----------+--------+----------+
|              |   For    |Discretionary| Against  |Withheld|          |
+--------------+----------+-------------+----------+--------+----------+
|Resolution No.|  No. of  |   No. of    |  No. of  | No. of |  Total   |
|              |  Votes   |    Votes    |  Votes   | Votes  |  Votes   |
|              |          |             |          |        |          |
|              |% of votes| % of votes  |% of votes|        |% of votes|
+--------------+----------+-------------+----------+--------+----------+
|      1       | 445,816  |   13,934    |  10,141  | 1,747  | 469,891  |
|              |          |             |          |        |          |
|              |  94.88%  |    2.97%    |  2.16%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      2       | 443,899  |   13,934    |  12,058  | 1,747  | 469,891  |
|              |          |             |          |        |          |
|              |  94.47%  |    2.97%    |  2.57%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      3       | 420,820  |   15,494    |  33,296  | 2,028  | 469,610  |
|              |          |             |          |        |          |
|              |  89.61%  |    3.30%    |  7.09%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      4       | 419,624  |   13,934    |  32,447  | 5,633  | 466,005  |
|              |          |             |          |        |          |
|              |  90.05%  |    2.99%    |  6.96%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      5       | 421,372  |   15,681    |  28,952  | 5,633  | 466,005  |
|              |          |             |          |        |          |
|              |  90.42%  |    3.36%    |  6.21%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      6       | 461,231  |    1,522    |  6,802   | 2,083  | 469,555  |
|              |          |             |          |        |          |
|              |  98.23%  |    0.32%    |  1.45%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      7       | 459,092  |    1,522    |  7,942   | 3,082  | 468,556  |
|              |          |             |          |        |          |
|              |  97.98%  |    0.32%    |  1.69%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+
|      8       | 436,924  |    1,522    |  33,192  |   -    | 471,638  |
|              |          |             |          |        |          |
|              |  92.64%  |    0.32%    |  7.04%   |        | 100.00%  |
+--------------+----------+-------------+----------+--------+----------+


A copy of the resolutions passed will be submitted to the National Storage
Mechanism and will shortly be available for inspection at
www.hemscott.com/nsm.do.


[HUG#1446523]








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Source: Downing Distribution VCT 1 plc via Thomson Reuters ONE