Director/PDMR Shareholding

Investec Structured Products Calculus VCT plc ("Company")

The Company announces that the below mentioned directors have acquired the
following numbers of ordinary shares of 1p each in the capital of the Company
("Shares") through the offer for subscription that opened on 3 March 2010
("Offer"):

Director                   Number of   Price paid   Total voting % of total
                            ordinary    per share    shares held     voting
                              shares                                rights*
                            acquired                                       
                           under the                                       
                               Offer                                       
                                                                           
Christopher Wightman          10,000        £1.00         10,000      0.26%
                                                                           
John Glencross                25,000        £1.00         25,000      0.65%
                                                                           
Stephen Meeks                 20,550        £1.00         20,550      0.53%
                                                                           
Michael O'Higgins            205,500        £1.00        205,500      5.31%
                                                                           
Mark Rawyard                  50,875        £1.00         50,875      1.32%
                                                                           
Philip Swatman                10,275        £1.00         10,275      0.27%
                                                                           
Ian Wohlman                   30,000        £1.00         30,000      0.78%

* calculated using the Company's latest announced issued Share capital, being
3,867,917 Shares.

5 May 2010