Issue of Equity

Close Brothers Dev VCT PLC
06 March 2003


                 Close Brothers Development VCT PLC 'C' Shares
                         ('Close Brothers Development')

      allots a further 24,250 'C' Shares in respect of the 2002/2003 Offer


The Board of Close Brothers Development VCT PLC is pleased to announce that a
further 24,250 'C' Shares have been allotted under the 2002/2003 Offer taking
total shares allotted to date to 3,920,611 'C' Shares.


Dealings in the further 24,250 'C' Shares allotted in respect of the 2002/2003
Offer will commence on 25 February 2003.   These shares will rank for 50 per
cent of the interim dividend in respect of the period ending 30 June 2003.


6 March 2003


Further enquiries:


Patrick Reeve/Ole Bettum              Close Venture Management (Manager)
Roger Bruce                                           Tel. [phone]


John West                             Tavistock Communications
                                      Tel: [phone]


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