Stmt re Share Price Movement

FORESIGHT TECHNOLOGY VCT PLC
22 September 1999


COMMENT ON RECENT SHARE PRICE MOVEMENT

The  Board of Foresight has noted the sharp rise  in  the
Company's share price over the last two days.

On 15 July 1999 the Company announced to shareholders its
intention  to raise a further £20 million by  way  of  an
offer  for  subscription. Further details were circulated
on  15  September  1999  and  approval  was  sought  from
shareholders  and warrant holders to raise new  funds  by
way  of an issue of C shares.  The capital raised  by  an
issue  of  C  shares would create a separate  fund  which
would  be managed separately by the Company. One  of  the
benefits  to  existing  shareholders  of  adopting   this
structure   is   that  ordinary  shareholders   will   be
exclusively entitled to any early realisations  generated
by the existing fund.

On  20 September 1999 the Company issued an update to its
investment   portfolio   and   confirmed   that   further
announcements  would be made, as appropriate,  to  ensure
shareholders and warrant holders are kept up to date with
developments within the venture capital portfolio.

The  Board  regularly  reviews the  Company's  investment
portfolio as well as opportunities to realise investments
within that portfolio. The Board does not anticipate  any
further realisations or changes to the valuation  of  the
Company's investment portfolio in the immediate future.

As  is  common  with other VCT's, shareholders  who  sell
their  shares within 5 years of acquiring them  may  lose
tax  relief  obtained when the shares  were  allotted  to
them.  Consequently the market in Foresight's shares  and
warrants is illiquid and the Board believes that this may
have  contributed to the recent sharp rise in  the  share
price.

With  regards  to  the Warrants, the  Company  wishes  to
remind  shareholders that each warrant entitles a warrant
holder to subscribe for one ordinary share at a price  of
100p per share in cash on 31 January in each of the years
2001  to  2004. Warrant holders do not have the right  to
block distributions to ordinary shareholders. Accordingly
it  is the opinion of the Directors that the value of the
warrants  may  be  determined  by  a  number  of  factors
including demand for VCT opportunities and the extent  to
which  the  Company's investments show  gains  which  are
likely to be distributed after one of the exercise  dates
of the warrants.

A  copy of the announcement released on 20 September 1999
follows:



FORESIGHT TECHNOLOGY VCT PLC

INVESTMENT UPDATE

Foresight  Technology  VCT  plc  ('Foresight'   or   'the
Company')  has  to  date, invested, or  is  committed  to
invest,    approximately    £7    million    representing
approximately 64 per cent. of its  portfolio.

The  Company is delighted to announce some recent changes
to, and developments within, this portfolio.

Policy Master Group Plc is a leading supplier of software
and  services  to the insurance industry with  a  trading
facility  on  AIM.  Foresight has recently  realised  its
investment at a value of £360,000, representing a 100 per
cent. premium on the cost of its original investment made
in July 1998.

Sapphire  Group Limited owns the established 'Data  Ease'
family of computer database software products which  have
an  international base of several hundred thousand users.
Foresight's original investment, made in July  1998,  was
£1  million,  of  which £400,000  was  in  10  per  cent.
unsecured  loan  stock with the balance in  equity  at  a
price  of  41.5p per share. Sapphire Group Limited  has
recently completed a second round equity financing,  with
a  third party, which values Foresight's investment at  a
premium   of   80  per  cent.  on  the  original   equity
investment.

SyNet Communications Limited runs an internet portal site
providing an increasing number of facilities including on-
line  games, email, personal home pages and chat with  e-
commerce having recently been launched. The business  has
developed  significantly and now  has  approximately  1.2
million  registered users and generates about 61  million
page   hits   per   month.  The   management   of   SyNet
Communications Limited are evaluating a number of methods
to  finance  the  continued growth in the business  which
includes the possibility of a flotation in due course.

The  Company  and VCF partners, the Company's investment,
advisers, are in the final stages of completing a further
internet  venture  capital investment with  an  aggregate
value of £1 million.

Foresight   intend  to  make  further  announcements   as
appropriate to ensure shareholders and warrant holders are
kept  up  to  date with developments within  the  venture
capital portfolio.