Reduction of Share Premium

Foresight Technology VCT PLC
15 March 2001


FORESIGHT TECHNOLOGY VCT PLC

REDUCTION OF SHARE PREMIUM ACCOUNT

The board reported to shareholders and warrantholders in the Company's
preliminary announcement of results for the year ended 30 September 2000 that
it intended to apply, subject to the approval of shareholders and
warrantholders, to the Court to reduce the amount standing on the share
premium account by £10 million to £30,532,732.


The £10 million set free by the reduction will be used to create a special
reserve in both the Ordinary Shares fund and the 'C' Shares fund in the
proportions 50% to 50% respectively against which existing and future loses
can be written off.


The board is pleased to announce that shareholders authority and the approval
of the court has been received and the reduction in the share premium account
became effective on 13 March 2001.