Disposal

Close Brothers Venture Cap Tst PLC
29 April 2004

                    Close Brothers Venture Capital Trust PLC

                       Disposal of specialist care homes
                            Second interim dividend
             Preliminary unaudited net asset value at 31 March 2004


The board of Close Brothers Venture Capital Trust PLC ('CBVCT') is pleased to
announce the sale of CBVCT's investment in Churchcroft VCT Limited, Drummond
Court VCT Limited, Fryers Walk VCT Limited, Lombardy Court VCT Limited and
Broadoak VCT Limited, each of which owns and operates a purpose-built home for
people with learning difficulties in East Anglia.  The aggregate consideration
received by CBVCT for its holdings, net of sale costs, is £14.0 million,
compared to a carrying value of £11.7 million at 30 September 2003 and original
cost of £9.9 million.  The total annualised return on CBVCT's aggregate
investment in these companies is 25%.

It is the Company's policy to have a progressive dividend policy by utilising
profits generated both from revenue and from profits on disposal of investments.
  It is therefore the intention to pay out total dividends in respect of the
year to 31 March 2004 of 8.5 pence per share, up from 8.0 pence in 2003 and 7.5
pence in 2002.  The Company paid an interim dividend of 3 pence per share in
respect of the first half of the financial year just ended, and now declares a
second interim dividend, out of realised capital profits, of 3.75 pence to be
paid on 28 May 2004 to shareholders on the register on 14 May 2004.  The final
dividend for the year to 31 March 2004 will be announced on 12 June 2004, in
conjunction with the results for the year, and is expected to be 1.75 pence,
bringing the total dividends for the year to our target of 8.5 pence.

As a result of the sale, the preliminary unaudited net asset value of Close
Brothers Venture Capital Trust at 31 March, was 113 pence per share, after
allowing for total dividends of 8.5 pence for the year.  The audited results for
the year are expected to be announced on 12 June 2004.


For further information please contact:

Patrick Reeve
or Ole Bettum, Close Venture Management 020 7422 7830

29 April 2004


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