New Fund Launch

FORESIGHT TECHNOLOGY VCT PLC
19 October 1999


Foresight Technology VCT Plc

Offer for Subscription of up to #20,000,000

The  Company  announces  that  on  15  October  1999,  it
launched  a  new fund by way of an Offer for Subscription
for  up  to 20,000,000 C Shares (with C Warrants attached
on  a one for five basis) at 100p per share.  The Offer's
first closing date is 3 December 1999.

As  a  sector-specific VCT, Foresight aims to  provide  a
spread of technology investments within the new fund.  Up
to  80% of the new proceeds of the Offer will be invested
in   UK   technology-based  companies  targeted  by   VCF
Partners,  Foresight's investment advisers.  The  balance
will  be  invested in a fixed interest  fund  managed  by
Cazenove Fund Management.

Commenting  on  the launch of the new fund  Peter  Dicks,
Chairman of Foresight Technology VCT Plc, stated:

'We  are  pleased to be raising new funds from a position
of  confidence - both in the existing portfolio  and  the
investment  opportunities in unquoted,  potentially  high
growth, technology-based businesses.'

At  Extraordinary  General Meetings of  shareholders  and
warrantholders   held  on  8  October  and   11   October
respectively,  shareholders and  warrantholders  approved
the  necessary  resolutions facilitating  the  offer  for
subscription.