Directorate change

Elderstreet VCT plc
16 October 2007

Elderstreet VCT plc  announces that  Luke Johnson has  resigned as  a
non-executive director of  the Company with  immediate effect.   Luke
has decided  to  step down  as  a  result of  his  significant  other
business commitments.

The Board would like  to thank Luke  for his insightful  contribution
since the Company's  launch in  1998 and wish  him well  in his  many
other ventures.

The Board now  comprises of five  non-executive directors, which  the
Directors consider to be appropriate  for a venture capital trust  of
this size and therefore do not  intend to seek a replacement at  this
time.

---END OF MESSAGE---