Issue of Equity

Investec Structured Products Calculus VCT plc

Issue of Equity

The Directors of Investec Structured Products Calculus VCT plc are pleased to
announce an allotment on 4 May 2011 of 98,590 C ordinary shares of 1p each ("C
Shares") at an issue price of 100p per share, pursuant to the offer for
subscription that opened on 7 January 2011 ("Offer"). This is the final
allotment and the Offer, which raised £1,920,500 in total, is now closed.

Application for the C Shares to be admitted to the Official List of the UK
Listing Authority and to trading on the London Stock Exchange's main market for
listed securities has been made and it is expected that admission will take
place on 6 May 2011.

Following this allotment, there are now 1,931,095 C shares in issue.

For further enquiries please contact:

Gary Dale (Investec Structured Products)       
                                               
Tel: [phone]                             
                                               
Email: [e-mail]                

Susan McDonald (Calculus Capital)           
                                            
Tel: [phone]                          
                                            
Email: [e-mail]             

5 May 2011