Purchase of Own Securities

Elderstreet Downing VCT PLC
23 May 2003

Elderstreet Downing VCT plc

23 May 2003

Elderstreet Downing VCT plc announces that on 22 May 2003 the Company purchased
6,000 ordinary shares of 5p each for cancellation representing 0.04% of the
issued share capital at a price of 42p per share.

Following this transaction the Company now has 14,995,500 shares in issue.


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