Dividend Declaration

Close Brothers Dev VCT PLC
17 November 2005



                       CLOSE BROTHERS DEVELOPMENT VCT PLC



                Revised Asset Value and Second Interim Dividend




As stated in the interim results for the 6 months to 30 June 2005, a second
interim dividend is being paid in December based on the unaudited results to 31
October 2005, in place of a final dividend.



The Company therefore declares an interim dividend for the Ordinary Shares of
1.2 pence per Share and 1.7 pence per Share for the C Shares payable on 23
December 2005 to shareholders on the register on 25 November 2005.



The Company's unaudited net asset value at 31 October 2005, before allowing for
the interim dividends referred to above, was 98.8 pence per Ordinary Share and
105.6 pence per C Share.



17 November 2005


For further information:

Patrick Reeve   Close Venture Management       Tel: [phone]








                      This information is provided by RNS
            The company news service from the London Stock Exchange