Net Asset Value(s)

QUESTER VCT PLC ("the Company")                        

                                NET ASSET VALUE                                

Below is a letter that will be sent to the Company's shareholders providing 
more information regarding the acquisition of the Manager of the Company by
NewMedia SPARK plc. In addition, the letter states that the unaudited net asset
value per share as at 28th February 2007 was 41.6p and cumulative total return
based on the unaudited results increased by 1pps to 88.3p.

"Dear shareholder

Manager of Quester VCT plc acquired by NewMedia SPARK plc

I am pleased to inform you that Quester, the manager of Quester VCT plc has
been acquired by NewMedia SPARK plc, the AIM listed technology venture capital
company focused on early stage investment.

Your board believes that the acquisition by SPARK will provide greater access
to some of the UK's best early stage entrepreneurs and investment managers as
well as broaden the investment opportunities available to the Quester managed
funds and VCTs. The combined group has the potential to deliver enhanced
long-term returns for our investors, additional investment opportunities, and a
wider spread of investments. The board of Quester VCT met three potential
acquirers of Quester and has held meetings with SPARK to discuss its plans for
the future management of Quester VCT which will be carried forward on the
existing basis.

Together, the combined group will manage funds of over £275 million including
the Quester Venture Partnership - an institutional fund, the three Quester
managed VCT funds - Quester VCT, Quester VCT4 and Quester VCT5, and funds
linked to universities, including Oxford.

SPARK has a focus on new media, with a particular emphasis on digital media,
software applications, technology and communications, which complements
Quester's own activities in this area. Quester's strong healthcare business
will be a platform for SPARK's new focus in this area.

SPARK's team specialising in early stage investment has been broadly the same
for eight years. It changed its strategy in 2002 after the dramatic growth of
SPARK in the previous three years, to focus solely on early stage investing and
has achieved somewhat better returns than Quester since that date. In addition,
SPARK has a strong balance sheet which should provide opportunities for access
to new sources of capital. SPARK sees considerable benefit in acquiring
Quester's expertise in managing third party funds.

There is a great synergy between Quester and SPARK. SPARK will be working with
Quester's team to maximise the value of Quester VCT's existing portfolio, to
extend the breadth of investment opportunities and to utilise its VCT
expertise. The deal brings together two compatible companies with common values
and a track record of co-investment, including Footfall which was successfully
sold to Experian in 2006. We believe that the acquisition will benefit both
Quester's investors and its portfolio companies and we look forward to our
future together.

I would like to confirm that we will be announcing our Preliminary Results for
Quester VCT plc next week. At this stage I can report that, the unaudited net
asset value per share as at 28th February 2007 was 41.6p. Shareholders would
have already received a dividend of 2.8p per share paid on 21st March 2007, in
place of a final dividend: the net asset value does not reflect this dividend.
The total dividends paid in the year ended 28th February 2007 were 3.9p per
share. The cumulative total return based on the unaudited results, show an
increase of 1pps to 88.3p.

Yours sincerely,

Jock Birney

Chairman"

Enquiries:

Quester

Andrew Holmes/John Spooner

0207222 5472

15 May 2007