Circ re. Offer for Subscrptn

Elderstreet VCT PLC
04 November 2005

Elderstreet VCT plc

4 November 2005

Circular re Offer for Subscription

The Board of Elderstreet VCT plc announces the despatch of a circular to its
shareholders convening an extraordinary general meeting to be held on 28
November 2005 to seek shareholder approval for resolutions in connection an
Offer for Subscription.

A copy of the document has been submitted to the Financial Services Authority
and will shortly be available for inspection at the FSA's document viewing
facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS


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