Offer for Subscription

Unicorn AIM VCT PLC
3 May 2002



                              Unicorn AIM VCT PLC

                         Offer for subscription closed


The board of Unicorn AIM VCT PLC is pleased to announce that the Offer for
Subscription made by the company in its prospectus dated 2 October 2001 has now
closed with the 35,000,000 ordinary shares available having been subscribed in
full at £1 per share. It is the company's objective to provide shareholders with
an attractive return from a diversified portfolio of investments which will be
predominantly invested in the shares of AIM companies. The company's funds are
managed by Unicorn Asset Management Ltd, who have an exceptional track record in
the domain of smaller companies investment.

Bridget Cleverly, director of Matrix, said 'I am delighted that, in one of the
most difficult years for raising funds for Venture Capital Trusts, the Unicorn
AIM VCT PLC has raised all of the money that it was looking for. The current
investment environment is extremely favourable for profit generation in smaller
companies. The fund has already made three qualifying investments and has
identified a good stream of investment opportunities.'


END


Contact details for further queries:

Bridget Cleverly at Matrix Group Ltd.                              020 7292 0851

Peter Walls at Unicorn Asset Management Ltd.                       020 7253 0889

Louise Hatch at Penrose                                            020 7789 4888



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