Result of EGM & Name Change

Elderstreet Downing VCT PLC
26 January 2005

Elderstreet Downing VCT plc
26 January 2005

At the Extraordinary General Meeting of Elderstreet Downing VCT plc held on 25
January 2005 all the resolutions were passed, including the resolution to change
the name of the Company. The change of name from 'Elderstreet Downing VCT plc'
to 'Elderstreet VCT plc' is expected to be effected shortly.

In addition, the Company announced the appointment of Barry Dean as a
Non-Executive Director.  Barry is a Chartered Accountant, and has over 25 years
experience in the venture capital industry including 16 years as Managing
Director of Kleinwort Benson Development Capital.  He is currently a Director of
Kleinwort Capital Trust Plc (a quoted investment trust investing in private
equity), and Kleinwort Capital Ltd which manages funds for investment in
mid-market unquoted companies.  The Directors believe that Barry's experience
will be a valuable addition to the Board, particularly with the Company
expecting to enter a phase of increased investment activity as a result of the
forthcoming 'C' share issue.


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