Offer for Subscription

Unicorn AIM VCT PLC
05 April 2004



Unicorn AIM VCT plc ('the Company')


5 April 2004


Offer for subscription of up to 20 million S2 Shares at 100p per share ('the
Offer')

The Board announces the publication of a supplementary prospectus (the 
'Supplementary Prospectus') dated 5th April 2004 relating to the Offer which
opened on 20 January 2004.

The Supplementary Prospectus has been issued following the Government's
statements to the effect that it intends to amend the tax reliefs available to
qualifying investors in venture capital trusts with effect from 6th April 2004.
It is proposed that income tax relief for qualifying investors will be increased
from 20 per cent. to 40 per cent. and that capital gains tax deferral will be
withdrawn. In addition, the annual investment limit for which tax relief is
available is to be increased from £100,000 to £200,000. These proposals have yet
to be confirmed in Parliament and the position on these tax reliefs will not be
certain until the amendments to be contained in the Finance Act 2004 become
effected (currently anticipated for July 2004).

The closing date of the Offer, which continues to be determined by the Directors
in their absolute discretion, has been extended from 2nd April 2004 to 14th May
2004.

Copies of the Supplementary Prospectus and the Prospectus dated 20th January
2004 are available for inspection only free of charge (during normal business
hours) at the Document Viewing Facility, The Financial Services Authority, 25
The North Colonnade, Canary Wharf, London E14 5HS. Copies may also be obtained
free of charge during normal business hours from:

Matrix-Securities Limited, Gossard House, 7/8 Savile Row, London W1S 3PE (tel:
0207 292 0825)

Teather & Greenwood Limited, Beaufort House, 15 St Botolph Street, London EC3A
7QR (tel: [phone])

5th April 2004

This announcement, which has been prepared by and is the sole responsibility of
the Company, has been approved by Teather & Greenwood Limited, a company
authorized and regulated by the Financial Services Authority and a member of The
London Stock Exchange, solely for the purposes of section 21 of the Financial
Services and Markets Act 2000.



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