Issue of Equity

Hazel Renewable Energy VCT1 plc
Hazel Renewable Energy VCT2 plc
Issue of Equity
5 April 2011

The  Boards of Hazel  Renewable Energy VCT1  plc ("Hazel 1") and Hazel Renewable
Energy  VCT2 plc  ("Hazel 2") announce  allotments which  took place  on 5 April
2011 in  respect of funds  of £8,924,350 that  have been raised  under the joint
Offers for Subscription of the companies that opened on 20 October 2010.

Details  of the allotments of ordinary shares of 0.1p each (Ordinary Shares) and
A  shares  of  0.1p each  (A  Shares)  which  took  place on 5 April 2011 are as
follows:

                             Issue price         Number of
 Company   Share class         per share   shares allotted

 Hazel 1   Ordinary Shares         99.9p         4,436,800

 Hazel 1   A Shares                 0.1p         4,436,800

 Hazel 2   Ordinary Shares         99.9p         4,487,550

 Hazel 2   A Shares                 0.1p         4,487,550


In   addition,   the  following  A  Shares  (being  Management  A  Shares)  were
unconditionally   allotted  on  5 April  2011 to  directors  of  the  respective
companies as follows:

                                                              Number of
                                               Issue             shares
                                               price    unconditionally
 Company   Share class   Director          per share           allotted

 Hazel 1   A Shares      Ben Guest              0.1p          2,500,000

 Hazel 2   A Shares      Christian Yates        0.1p          2,500,000


Application  for  the  Ordinary  Shares  and  A  Shares  of both companies to be
admitted  to the Official List of the UK Listing Authority and to trading on the
London  Stock  Exchange's  market  for  listed  securities  will  be made at the
earliest practical opportunity.

The Offer for Subscription for the 2010/2011 tax year is now closed.

The Offer for Subscription for the 2011/2012 tax year is expected to remain open
until 30 April 2011 unless previously extended or fully subscribed earlier.







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Source: Hazel Renewable Energy VCT 1 plc via Thomson Reuters ONE

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