EGM Statement

Close Brothers Dev VCT PLC
29 May 2007

                       CLOSE BROTHERS DEVELOPMENT VCT PLC
                                   EGM Result
________________________________________________________________________________

At an Extraordinary General Meeting of the Company held today, the Board of
Close Brothers Development VCT PLC is pleased to announce that the Resolution
contained in a circular to Shareholders dated 2 May 2007, to amend the Company's
management incentive arrangements, has been passed.


29 May 2007

Further enquiries:

Patrick Reeve                                   Close Ventures Limited (Manager)
                                                              Tel. [phone]


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