AGM Statement

Close Brothers Aim Vct PLC
26 June 2002

                           Close Brothers AIM VCT PLC


The following is the text of the statement made at the Company's AGM at 11:00
a.m. today:

'In light of recent stock market turbulence, I thought it might be helpful to
make a couple of points.

First, the investment managers are here and are happy to answer any questions
you may want to put to them at the end of formal business.

Secondly, I thought that you would like to know that unaudited Net Asset Values
at the end of May, derived from management accounts were:

Ordinary portfolio         89p per share

C Share portfolio          88p per share

These figures were publicly released about a fortnight ago - but in present
markets a fortnight is a long time. Adjusting the May management accounts only
for share price movements since then we estimate the Net Asset Values are
approximately:



Ordinary portfolio         84p per share

C Share portfolio          86p per share

Your managers have continued to make investments, since February, taking
advantage of the more realistic prices which now prevail amongst new issues.
Those are set out at the top of page 10 of your accounts. Since publication two
further investments of £293,500 have been made by the C Share portfolio in
Fulcrum Pharma and Vianet. Like all the investments on page 10 I am pleased to
say that they too are showing a profit - albeit a small one.

My conclusion from this is that there are some worthwhile investments available
in present market conditions and I would therefore reiterate the modest note of
optimism I expressed for the medium term in my statement in the accounts.

With that, Ladies and Gentlemen, I would like to turn to the formal business.'



For further information telephone:



Andrew Buchanan 020 7426 4000



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