Additional Listing

Close Brothers Dev VCT PLC
17 June 2002



                       CLOSE BROTHERS DEVELOPMENT VCT PLC

                         Announcement for 17 June 2002


Close Brothers Development VCT PLC ('the Company') announces that it will allot
today for cash 31,750 Ordinary Shares of 50p each in the Company at an issue
price of 100p per share. The funds will be invested in accordance with the
Company's stated investment policy. These shares rank pari passu in all respects
with the existing issued ordinary shares in the Company. Application has been
made to the UK Listing Authority and the London Stock Exchange for the shares
being issued to be admitted to Listing and it its expected that dealings will
commence on 19 June 2002.


For further information please contact:

Patrick Reeve - Close Venture Management

Tel: [phone]

John West/Justin Griffiths - Tavistock Communications Ltd

Tel: [phone]



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