Additional Listing

Close Brothers Dev VCT PLC
19 January 2004

                       CLOSE BROTHERS DEVELOPMENT VCT PLC

                        Offer of 13,200,000 New C Shares


The board of Close Brothers Development VCT PLC announces the publication of a
prospectus for the Offer for Subscription of up to 13,200,000 New C Shares at a
price of 100 pence per share.  The New C Shares rank pari passu with the
Existing C  Shares, other than the right to receive the final dividend for the
year to 31 December 2003 and the interim dividend for the 6 months to 30 June
2004.



A copy of the prospectus has been submitted for approval to the UK Listing
Authority and will be available for inspection at their offices at 25 The North
Colonnade, Canary Wharf, London E14 5HS.



For further information please contact:



Patrick Reeve, Close Venture Management on              020 7422 7830
Roger Bruce, Close Brothers Investment Limited on       0870 733 3773





19 January 2004


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