Interim Results

Close Technology & General VCT PLC
22 September 2005


                       CLOSE TECHNOLOGY & GENERAL VCT PLC
                                INTERIM RESULTS

Close Technology & General VCT PLC ('the Company'), today announces its interim
results for the six months to 30 June 2005.

Financial Highlights:

   •NAV per Ordinary Share of 118.5 pence (2004: 108.4 pence (restated))
   •Interim dividend paid in July 2005 of 4.0 pence per share (2004:
    first interim dividend paid of 1.0 pence)
   •A further interim dividend of 4 pence per share will be paid on 4 November
    2005 to shareholders on the register on 7 October 2005. 


For further information, please contact:

Patrick Reeve/ Will Fraser-Allen              Clemmie Carr
Close Venture Management Limited              Tavistock Communications
Tel: [phone]                            Tel: [phone]


Notes to Editors:
     
1)   Close Technology & General VCT PLC is managed by Close Venture Management 
     Limited.

2)   Close Venture Management Limited is a subsidiary of Close Brothers Group 
     Plc and is regulated by the FSA.

3)   Unaudited interim reports for the period will be sent to shareholders
     shortly.

4)   The financial information set out in the announcement does not constitute 
     the Company's statutory accounts for the six months ended 30 June 2005 or 
     2004. The financial information for the year ended 31 December 2004 is
     derived from the statutory accounts delivered to the Registrar of 
     Companies. The auditors reported on those accounts; their report was 
     unqualified and did not contain a statement under s237 (2) or (3) of the 
     Companies Act 1985.






                              Chairman's statement

Introduction

Close Technology & General VCT has raised £14.4 million from private investors
since its launch in January 2001 and offers investors the opportunity to
participate in a balanced portfolio of technology and non-technology businesses.
The Company's investment portfolio is currently split by value approximately as
follows:

• 30% invested in technology companies, of which:
- 12% in quoted investments in international technology stocks;
- 18% in unquoted UK technology-related companies,
• 70% in unquoted investments in UK non-technology companies.

Investment progress

The first six months of the year has seen excellent further progress in the
Company's portfolio, leading to another strong rise in asset value. This was
principally due to the sale of investments; first in Automotive Technik
(Holdings) Limited, a manufacturer of military vehicles, which realised a profit
of £2.05 million, and second in Cassium Technologies Limited, a software
services provider, for a profit of £790,000. This more than offset provisions in
other parts of the portfolio.

The main new investments in the period were £500,000 in Xceleron, a spin-out
from York University, which provides analysis services to the pharmaceutical
industry, £667,000 in Q Gardens, which secured us a first charge over the 7 acre
freehold garden centre in Fareham, and £500,000 in Weybridge Limited, which is
developing a health and fitness club on a 30 acre freehold site in Weybridge,
Surrey. Your Company also invested in an additional number of companies which
own and operate freehold pubs.

As a result of the introduction of revised Financial Reporting Standards for
periods commencing on or after 1 January 2005, dividends to shareholders are
recognised in the accounts in the period in which they are approved, rather than
the period in which they are proposed, as was previously the case. It is
intended that the 'interim' and 'final' dividends will be replaced by two
interim dividends. In the current financial year, however, shareholders will
receive three dividends. The first, of 1 penny, representing last year's 'final'
dividend was approved on 19 April 2005. The second, of 4 pence, was paid on
14 July 2005 to shareholders on the register on 24 June 2005. The third, which 
is also 4 pence, was approved by the Board of Directors on 12 September 2005 
and will be paid on 4 November 2005 to those shareholders on the register on 7 
October 2005. It is intended that, so far as is practicable and if the Company's 
performance permits, the Company will pay total dividends of 8 pence per annum 
for future periods.

New C Share issue

As a result of our successful investment record, it is intended to increase the
scale of the Company by a new issue of C shares. The issue, which is currently
anticipated to raise £25 million, will be subject to shareholders' approval at
an extraordinary general meeting to be scheduled for November 2005. Further
details will be sent to shareholders over the next few weeks.

Results and dividend

As at 30 June 2005 the net asset value of the Company was £16.4 million (30 June
2004 restated: £15.2 million), equivalent to 118.46 pence per share (30 June
2004 restated: 108.4 pence per share). Net income after taxation was £222,000
for the period, which enabled the Board to pay a net interim revenue dividend of
2.0 pence per share which was combined with a capital dividend of 2.0 pence per
share. This was paid on 14 July 2005 (first interim 2004: 1 pence per share).


Dr N E Cross
Chairman                                                       21 September 2005
                                                                          



                           Statement of total return
                      for the six months to 30 June 2005

                       Unaudited                   Unaudited                    Audited
                     Six months to              Six months to,                  Year to,
                     30 June 2005                30 June 2004               31 December 2004
               Revenue   Capital   Total   Revenue   Capital   Total   Revenue   Capital     Total
                 £'000     £'000   £'000     £'000     £'000   £'000     £'000     £'000     £'000

Gains/(losses)
on investments       -     1,609   1,609         -       (17)    (17)        -     1,274     1,274

Investment
Income             421         -     421       305         -     305       670         -       670

Investment
management
fees               (54)     (161)   (215)      (50)     (150)   (200)     (104)     (312)     (416)   

Other expenses     (72)        -     (72)      (64)        -     (64)     (126)        -     (126)

Return/(loss)
on ordinary
activities
before tax         295     1,448   1,743       191      (167)     24       440       962     1,402

Tax on
ordinary
activities         (73)       49     (24)      (45)       38      (7)     (101)       78      (23)

Return/(loss)
attributable
to equity
shareholders       222     1,497   1,719       146      (129)     17       339     1,040     1,379

Amounts
recognised as
distributions
to equity
shareholders
in the period     (415)     (276)   (691)     (215)        -    (215)     (353)     (699)  (1,052)

Transfer
(from)/to
reserves          (193)    1,221     1028     (69)     (129)   (198)      (14)        341     327
Return per
share (pence)      1.5       10.5     12.0      1.0      (0.9)    0.1       2.4        7.4    9.8


All revenue and capital items in the above statement derive from continuing
operations.
No operations were acquired or discontinued during the period.
*Comparative figures have been restated in accordance with FRS 21 in respect of
declared dividends.







                                 Balance sheet
                               as at 30 June 2005

                                  Unaudited         Unaudited           Audited
                               30 June 2005      30 June 2004    31 December 2004
                                                  (Restated)*         (Restated)*
                                      £'000          £'000               £'000

Fixed asset investments
Qualifying investments                8,674         12,923               9,534
Non-qualifying investments            1,673          1,426               1,328

Total fixed asset investments        10,347         14,349              10,862

Current assets
Debtors                                 318             55                  61
Cash at bank                          6,446            993               4,819

                                      6,764          1,048               4,880

Creditors: amounts falling
due within one year                    (745)          (213)               (117)

Net current assets                    6,019            835               4,763

Total assets less current 
liabilities                          16,366         15,184              15,625

Capital and reserves
Called up share capital               6,908          7,004               6,958
Share premium                           165            165                 165
Special reserve                       5,785          5,978               5,894
Capital redemption reserve              287            191                 237
Realised capital reserve              4,974           (777)              2,722
Unrealised capital reserve           (1,779)         2,392                (637)
Revenue reserve                          26            231                 286

Total equity shareholders'
funds                                16,366         15,184              15,625

Net asset value per share
(pence)                               118.5          108.4               112.3

*Comparative figures have been restated in accordance with FRS21 in respect of
declared dividends.
The interim information was approved by the Board of Directors on 21 September
2005.
Signed on behalf of the Board of Directors by

Dr N E Cross
Chairman





                              Cash flow statement
                      for the six months to 30 June 2005

                                         Unaudited       Unaudited     Audited
                                     Six months to   Six months to     Year to
                                      30 June 2005    30 June 2004   31 December
                                                                          2004
                                             £'000           £'000       £'000

Operating activities

Investment income received                     398             160         593
Deposit income received                         42              10          50
Investment management fees
paid                                          (158)           (235)       (480)
Other cash payments                            (84)            (91)       (119)

Net cash inflow/(outflow)
from                                           198            (156)         44
operating activities

Taxation
UK corporation tax paid                          -               4          (8)

Capital expenditure and financial
investment
Purchase of investments                     (3,484)           (762)     (2,959)
Disposal of investments                      5,159             801       7,635

Net cash inflow from
investing activities                         1,675              39       4,676

Equity dividends paid
Dividends paid on ordinary
shares                                        (139)           (212)     (1,052)

Net cash inflow/(outflow)
before financing                             1,734            (325)      3,660

Financing
Cancellation of shares                        (107)           (192)       (351)

Net cash outflow from
financing                                     (107)           (192)       (351)

Increase/(decrease) in cash
in the period                                1,627            (517)      3,309
_______________________________________________________________________________





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