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Thursday 23 December, 2004


Offer by Quester VCT 5 plc

Quester VCT 5 plc announces that it has published a Prospectus to raise up to £
10 million.

The Offers for Subscription are for up to 10,928,962 New Ordinary Shares for
both the 2004/2005 and 2005/2006 tax years. The Offers open on 10 January 2005
and will close at 10am on 4 April 2005 for the 2004/2005 Offer and 30 June 2005
(or any earlier date on which it is fully subscribed) for the 2005/2006 Offer.
There is an incentive mechanism in place for application forms received before
noon on 28 February 2005.

To obtain a copy of the prospectus, private investors and financial advisers
should call the Manager, Quester Capital Management Limited on 020 7227 3333 or
the sponsor and broker, Noble & Company on 020 7763 2200. Downloadable versions
of the prospectus will also be available from

A copy of the Prospectus has been submitted to the UKLA, and will shortly be
available for inspection at the UKLA's Document Viewing Facility, which is
situated at:

Financial Services Authority

The North Colonnade

Canary Wharf


E14 5NS

For further information contact:

Janet Chalkley Quester Capital Management Limited, tel. 020 7227 3333

Shane Elliott Noble & Company Limited, tel. 020 7763 2200