Net Asset Value(s)

Close Brothers Dev VCT PLC
05 March 2007



                         Close Brothers Development VCT

                  Revised pro-forma Net Asset Value following

         Agreed recommended Offer for Careforce Group PLC ('Careforce')

                                      and

                 Conversion of the C Shares to Ordinary Shares





Following the announcement of the recommended offer by Mears Group PLC for the
issued share capital of Careforce, the Board of Close Brothers Development VCT
is pleased to announce an increase in its pro-forma net asset value per share.



The recently announced results for the year ended 31 December 2006 reported net
asset values of 94.6 pence per Ordinary Share and 101.4 pence per C Share.
Based on the conversion of C shares to Ordinary shares at a ratio of 1.0715, the
pro-forma (unaudited) net assets per Ordinary share as at 31 December 2006,
would be 94.6 pence per share (excluding Treasury shares).



Based on the terms of Mears Group's offer for Careforce completing, and on the
basis of the conversion of the C Shares (due to become effective on 31 March
2007), the revised pro- forma (unaudited) net asset value of the Ordinary Shares
will rise to 98.7 pence per share (excluding Treasury shares).



Close Brothers Development VCT first backed Careforce in 2000 at a very early
stage in its development, and invested a total of £3.1 million to fund its
acquisition programme up to the company's flotation on AIM in 2004.  Following
the float, Close Brothers Development VCT remained a significant shareholder
and, as a result of the approved offer for Careforce, will have realised 2.4
times its investment and achieved an annualised return of 30 per cent during the
period of its investment.



Mike Rogers, chief executive of Careforce, commented 'Close Ventures has been a
supportive friend over the years, and I am very grateful for its help in
building up Careforce to its current respected and successful market position.'



Following completion of the sale, the Board of Close Brothers Development VCT
intends to aim for an annual dividend of 5 pence per share, subject to the
continued availability of revenue and realised capital profits.





5 March 2007



For further information:


Patrick Reeve                                     Roddi Vaughan-Thomas
Close Venture Management                          Peregrine Communications
Tel: [phone]                                Tel: [phone]





About Close Ventures



Close Ventures, is a member of the Close Brothers Group and is one of the market
leaders in the area of VCT investment. Close Ventures manages six venture
capital trusts with net assets of £220 million (as at 4 November 2006,
unaudited). Close Ventures was voted ''Best VCT Provider ''at the 2005 and 2006
Professional Investor Awards and ''VCT Fund Manager of the Year'' at the 2005
and 2006 Growth Company Awards.



Having launched its first VCT in 1996 Close Ventures has as exemplary track
record of returning cash to shareholders through dividends (both revenue and
capital) and share buy-backs. Close Ventures has returned a total of £54.1
million to shareholders from its VCTs launched, as follows:


Total funds returned to shareholders                                  £ million
Revenue dividends                                                     34.6
Capital dividends                                                     9.7
Share buybacks                                                        9.8
Total                                                                 54.1
(Source: Close Ventures as at 4 December 2006)



Close Ventures is a subsidiary of Close Brothers Group plc and is authorised and
regulated by the Financial Services Authority.



About Careforce - effective, adaptable domiciliary care

Careforce provides care at home for the elderly and for people with physical and
/or learning disabilities. Careforce can implement a flexible care scheme to
suit patient needs, quickly and cost-effectively, from one daily visit to 24
hour live-in care. Its  Nurseforce subsidiaries provide Auxiliaries, Support
Workers and Qualified Nursing staff for individual clients and Nursing Homes and
hospitals in their respective areas.

Careforce provides homecare for both private and Social Services' clients.




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