Result of GM/Offer for Subscription/Issue of Pr...

Investec Structured Products Calculus VCT plc ("the Company")

Result of GM, Offer for Subscription and Issue of Prospectus

7 January 2011

Announcement of result of General Meeting.

The board of the Company is pleased to confirm that the resolution (to approve
the Related Party Transactions with Investec Structured Products) proposed at
the General Meeting of the Company held today, 7 January 2011, was duly passed
on a show of hands.

Details of proxy votes lodged before the meeting will be available shortly on
the website of Calculus Capital, www.calculuscapital.co.uk.

A copy of the resolutions will be submitted to the National Storage Mechanism
and will shortly be available for inspection at www.hemscott.com/nsm.do.

Offer for Subscription and Issue of Prospectus

The board of the Company is also pleased to announce the launch of an offer for
subscription for C ordinary shares of 1p each in the capital of the Company to
raise up to £25 million ("the Offer").

The Offer opens today and will close on 30 April 2011 (unless fully subscribed
by an earlier date or otherwise extended or closed at the Directors'
discretion). The Offer is open to existing shareholders and new investors.

Full details of the Offer are contained in the summary and securities note
dated 7 January 2011, which were published by the Company today, the
registration document dated 20 September 2010 and the supplementary prospectus
dated 20 October 2010, which together constitute a prospectus ("the
Prospectus").

The Prospectus has been submitted to the Financial Services Authority and the
securities note and summary will shortly be available for inspection at the
National Storage Mechanism. Copies of the registration document and
supplementary prospectus have previously been uploaded on to the National
Storage Mechanism.

For further information, please contact:

Investment Manager to the Structured Products Portfolio

Investec Structured Products
Gary Dale
Telephone: [phone]


Investment Manager to the Venture Capital Portfolio

Calculus Capital Limited
Susan McDonald
Telephone: [phone]