Issue of Equity

Elderstreet VCT PLC
27 June 2005

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

28 June 2005

The Directors of Elderstreet are pleased to announced that on 16 June 2005 they
issued and allotted a further 81,012 'C' ordinary shares of 5 pence each
(bringing the total issued and allotted to 1,542,202 '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.

Application will be made at the earliest practicable opportunity for these
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.  The Offer
has now closed.


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