Issue of Equity

Elderstreet VCT plc
3 April 2009

Issue of Equity

The Directors  announce  that  the Company  has  made  the  following
allotment under the Offer  for Subscription made  on 9 December  2008
("the Offer") in accordance with the  pricing formula set out in  the
offer document.

On 3 April  2009, 99,061  Ordinary Shares  of 5p  each were  allotted
under the Offer at a price of approximately 74.7p 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 PDMRs included within the above  allotment,
are summarised as follows:



                  Number Ordinary Total holding Total % holding
                 Shares issued on   of Ordinary     of Ordinary
                     3 April 2009        Shares          Shares

David Lowe PDMR            41,360        95,945           0.41%




The Offer for Subscription  in respect of the  2008/2009 tax year  is
now closed. The  Offer for the  2009/2010 tax year  will remain  open
until 29 May  2009 (unless  previously extended  or fully  subscribed
earlier).

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