Transaction in Own Shares

Close Brothers Dev VCT PLC
29 January 2004

                       CLOSE BROTHERS DEVELOPMENT VCT PLC

Close Brothers Development VCT announces that the transaction announced on 27
January whereby the Company purchased 10,000 Ordinary Shares in the Company at a
price of 60 pence per share has been cancelled.

For further information, please contact Patrick Reeve on 020 7422 7830


29 January 2004


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