Circ re. Fund Manager

British Smaller Companies VCT PLC
03 April 2008



               British Smaller Companies VCT plc ('the Company')

                   YFM Private Equity Limited - Fund Manager

03 April 2008


In the prospectus issued on 4 January 2008 the Company announced that YFM Group
(Holdings) Limited, the ultimate parent company of both YFM Group and YFM
Private Equity Limited, the Company's Fund Manager, had received an approach to
acquire its entire share capital.

The Company announces that today the entire share capital of YFM Group
(Holdings) Limited was acquired by GLE Group.

This change does not therefore, in the opinion of the board, comprise a
significant new factor (for the purposes of making an informed assessment of the
kind mentioned in section 87A (2) of the Financial Services and Markets Act
2000) relating to the Offer.

In the opinion of the directors of YFM Group (Holdings) Limited and the
investment team it is not envisaged that there will be any change to either the
members of the Company's investment team or the operations of the YFM Group that
would have any material effect in respect of its relationship with British
Smaller Companies VCT plc or its ability to manage its investment portfolio.

With today's announcement, YFM Group (Holdings) will become an arm of GLE with a
common business model of providing investment to UK small and growing
businesses. GLE is headquartered in London with satellite offices spanning the
South East, Brussels, and Prague and currently operates a range of businesses,
including property investment and development, business finance, business
development and an economic development consultancy. For more information, visit
www.gle.co.uk


For further information please contact:

David Hall
YFM Private Equity Limited
0161 832 7603 or 0113 294 5000


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