Issue of Equity

Elderstreet VCT PLC
05 April 2005

Elderstreet VCT PLC ('Elderstreet' or 'the Company')
Offer for subscription of 'C' Shares ('the Offer')

6 April 2005

The Directors of Elderstreet are pleased to announced that on 5 April 2005 they
issued and allotted a further 91,190 'C' ordinary shares of 5 pence each
(bringing the total issued and allotted to 1,461,190 'C' ordinary shares),
conditional only on admission ('Admission') of these 'C' shares to the Official
List of the UK Listing Authority and to trading on the main market of the London
Stock Exchange.

Dealings in these 'C' shares is expected to commence on 8 April 2005 and
definitive documents of title are expected to be dispatched within 10 business
days of allotment.  The Offer is expected to remain open until 27 May 2005.


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