Transaction in Own Shares

Elderstreet Downing VCT PLC
21 October 2004

Elderstreet Downing VCT plc
21 October 2004

Elderstreet Downing VCT plc announces that between 18 October 2004 and 19
October 2004 the Company purchased a total of 25,000 ordinary shares of 5p each
for cancellation representing 0.17% of the issued share capital at a price of
50p per share.

Following this transaction the Company now has 14,750,300 shares in issue.


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