Issue of Equity

Elderstreet VCT PLC
05 April 2006

Elderstreet VCT plc ('the Company')
6 April 2006
Issue of Equity

The Directors announce that the Company has made the following allotment under
the Offer for Subscription made on 9 March 2006 ('the Offer') in accordance with
the pricing formula set out in the prospectus.

On 5 April 2006,  446,785 Ordinary Shares of 5p each were allotted under the
Offer at a price of approximately 68.89p per share.

Application for the new shares 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.


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