Issue of Equity

Elderstreet VCT plc
4 April 2008

Issue of Equity

The Directors announce that the Company has made the following
allotment under the Offer for Subscription made on 4 February 2008
("the Offer") in accordance with the pricing formula set out in the
prospectus.

On 4 April 2008, 805,381 Ordinary Shares of 5p each were allotted
under the Offer at a price of approximately 91.96p 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.

Ordinary shares issued to Directors included within the above
allotment, are summarised as follows:



                    Number Ordinary Total holding Total % holding
                   Shares issued on   of Ordinary     of Ordinary
                       4 April 2008  and C Shares    and C Shares

Michael Jackson             111,464       706,287           3.12%
David Lowe                   44,585        54,585           0.24%

Total                       156,049




The Offer for Subscription in respect of the 2007/2008 tax year is
now closed, but the Offer for the 2008/2009 tax year will remain open
until 30 May 2008 (unless previously extended or fully subscribed
earlier).

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