Portfolio Update

Foresight Technology VCT PLC
22 March 2004

Foresight Technology VCT plc



Portfolio update



The Board of Foresight Technology VCT plc is pleased to announce that, UMECO
plc, has agreed terms to acquire  Advanced Composites Group Limited, an
investment in the Ordinary Shares fund, for a total cash consideration of £44.25
million, to be part funded by a UMECO plc rights issue. The acquisition is
expected to be completed in early May 2004.



Upon completion Foresight expects to receive a cash consideration of
approximately £10 million. It is the Board's current intention to distribute
this to shareholders by way of a tax free dividend as soon as practicable
thereafter. A copy of the full text of the UMECO plc announcement, released at
7.00am on Friday 19th March 2004, can be viewed at the attached RNS link.



http://www.londonstockexchange.com/rns/announcement.asp?AnnID=764180



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                      This information is provided by RNS
            The company news service from the London Stock Exchange