Realisation

Close Technology & General VCT PLC
16 May 2005


For immediate release: 16 May 2005

        CLOSE TECHNOLOGY & GENERAL VCT AND BAMBO INVESTMENTS REALISE £2.8
                         MILLION ON DISPOSAL OF CASSIUM

Close Technology & General VCT ('CT&G VCT') and Bamboo Investments Plc 
('Bamboo'), both managed by Close Venture Management ('CVM') announce the sale 
of their investment in Cassium Technologies Limited ('Cassium') for a total 
consideration of £2.8 million. This represents more than double the total amount
invested by the funds since July 2002 and an exit IRR of 40%. Cassium has been 
acquired by Netstore Plc, a technology company quoted on the Alternative 
Investment Market.

CT&G VCT and Bamboo invested £1million in Cassium in July 2002 to fund the 
expansion of the business. A further investment of £0.25 million was made in 
2004 to provide working capital for growth. Cassium has more than doubled its 
revenues since 2002 and has established itself as a leading provider of 
technology services to the telecoms and financial services sectors and fast 
growing provider of IT managed services to SMEs.

Paul Cosgrave, Chief Executive of Cassium commented: 'In the past 3 years 
Cassium has gone from strength to strength. CVM played a key part in this 
success by providing financial backing for the expansion of the business and 
also importantly by working closely with our management team to develop 
Cassium's strategic direction. We very much enjoyed working with James Stoddart
 and Emil Gigov during this period and would like to thank them for their 
valuable help and assistance.'

Emil Gigov, Director of CVM, commented: 'This deal is an ideal illustration of 
CVM's investment approach. We backed an entrepreneurial management team with a 
vision for growth. Over the last three years the company has become a leading 
provider of services in some of the fastest growing areas of the IT market. 
The sale of our investment realises a good return for our investors and follows 
several profitable exits in the past twelve months. These exits include the 
recent sale of Automotive Technik for £25 million, the sale of Active Hotels 
for £90 million and the flotation of Careforce Group Plc on AIM.'

As a result of the sale, the preliminary unaudited net asset value of CT&G VCT 
at 31 March 2005 was 122 pence.

For further information please visit www.closeventures.co.uk or contact:

Emil Gigov, Director                    John West / Clemmie Carr
Close Venture Management                Tavistock Communications
Tel: [phone]                      Tel: [phone]

Notes to Editors

Close Venture Management

CVM is one of the most successful and longest established Venture Capital Trust
(VCT) managers. It was formed in 1996 and currently manages a portfolio of eight
VCTs with combined funds under management in excess of £220 million.

In addition, CVM advises the Healthcare & Leisure Property Fund, an Isle of
Man-based open-ended investment company participating in asset-based investments
made by its VCTs as well as acting as investment manager to Bamboo Investments
plc, an investment company specialising in early stage, high growth businesses,
principally in the technology sector.

Close Venture Management is one of the largest VCT managers and concentrates its
investment strategy on lower investment risk and higher dividend yield.

VCTs under management:

Close Brothers Venture Capital Trust PLC invests in a broad range of unquoted
asset-backed businesses in the hotel, care home, residential property
development, health and fitness and cinema sectors. It is aimed at providing
investors with a lower risk investment profile whilst at the same time
generating a strong dividend yield.

Close Brothers Protected VCT PLC is similarly aimed at providing investors with
a lower risk investment opportunity in a portfolio of asset-backed businesses.

Close Brothers Development VCT PLC provides equity and debt finance to growing
unquoted companies across a variety of sectors, with investments ranging from
technology-orientated to service and asset-backed businesses.

Close Technology & General VCT PLC offers investors the opportunity to
participate in a balanced portfolio of technology and non-technology businesses.

Close Income & Growth VCT PLC aims to provide investors with a regular and
predictable source of income combined with the prospect of potential longer-term
capital growth.

In April 2005 CVM became the investment manager of Murray VCT PLC, Murray VCT 2
 PLC and Murray VCT 3 PLC.

Close Brothers was voted VCT Group of the Year in the Growth Company Awards 
2003 and Best VCT Provider at the Professional Adviser Awards 2005.

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






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