Issue of Equity

Close Brothers Dev VCT PLC
11 April 2003





                 Close Brothers Development VCT PLC 'C' Shares

                         ('Close Brothers Development')


      allots a further 25,125 'C' Shares in respect of the 2003/2004 Offer


The Board of Close Brothers Development VCT PLC is pleased to announce that
25,125 'C' Shares have been allotted under the 2003/2004 Offer taking total
shares allotted to date to 10,641,972 'C' Shares.

Dealings in the further 25,125 'C' Shares allotted in respect of the 2003/2004
Offer will commence on 14 April 2003. These shares will rank for 50 per cent of
the interim dividend in respect of the period ending 30 June 2003.

The 2003/2004 Offer will now be extended to Friday, 30 May with dealing in the
final allotment expected to begin on 2 June. All shares allotted after 11 April
2003 will not be eligible for the interim dividend in respect of the period
ending 30 June 2003.



11 April 2003

Further enquiries:

Patrick Reeve/Ole Bettum     Close Venture Management (Manager)

Roger Bruce     Tel. [phone]

John West     Tavistock Communications

                                                              Tel: [phone]


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