Issue of Equity

New Century AIM VCT plc
                  

                        NEW CENTURY AIM VCT PLC
                   17-21 New Century Road, Laindon,
                      Basildon, Essex, SS15 6AG.
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                        New Century AIM VCT plc

                     (Registered Number 05352611)

                            (the 'Company')

MINUTES of a COMMITTEE
MEETING of the BOARD of
DIRECTORS of the Company
held by telephone conference
call on 5th April 2005
            at
    17-21 New Century Road, Laindon,
    Basildon, Essex, SS15 6AG.

                                                     Present: Michael Barnard
                                                                 John Grice
                                                                 Geoff Grimble
                                                                 Robin Kirby

1. QUORUM

Michael Barnard agreed to act as Chairman of the Committee for the purposes of
the meeting.

It was noted that at the Board Meeting held on Tuesday 5th 2005 a committee
consisting of any two Directors of the Company had been appointed to act on
behalf of the Company in relation to all matters in connection with the offer
for subscription of up 10 million Ordinary shares of £0.10 in the capital of the
Company at an offer price of £1 each (the 'Offer'). The Chairman reported that
a notice of the committee meeting has been duly given, the meeting had been duly
convened, a quorum was present and declared the meeting open.

2. DECLARATION OF INTERESTS

Each of the Directors declared his interests in the business to be transacted in
accordance with Section 317 of the Companies Act 1985.

3. PURPOSE OF THE MEETING 

The Chairman explained that the meeting had been convened in connection with the
Offer.

4. ALLOTMENT OF SHARES 

(1) It was reported that application forms in respect of (in aggregate) shares
to the value of 3368500 had been received by the Company, making a total of
4,427500 to date.

(2) AT WAS RESOLVED TO ALLOT 3368500 ordinary shares in the capital of the
Company pursuant to the offer, subject to Admission.

(3) The secretary of the Company was instructed to make all entries in the
statutory registers, to file this minute in the minute book and to lodge a
Companies House form 88(2) (return of allotments) in respect of the shares
allotted.

5. END OF MEETING

There being no further business, the Chairman declared the meeting closed.

M. Barnard

Chairman