Merger Update

OCTOPUS IHT AIM VCT PLC (RENAMED OCTOPUS SECOND AIM VCT PLC)

Merger Update

12 August 2010

This announcement is made by Octopus IHT AIM VCT plc ("the Company") in
connection with the proposed merger of the Company with Octopus Second AIM VCT
plc ("Second AIM VCT") ("Scheme"), details of which were contained in the
Company's prospectus ("the Prospectus") and circular to shareholders ("the
Circular") both dated 9 July 2010.

The board of directors of the Company ("the Board") is pleased to advise that
the resolution proposed at the general meeting of Second AIM held today was duly
passed to be able to implement and effect the Scheme.

By way of implementation of the Scheme, the assets and liabilities of Second AIM
VCT have been transferred to the Company, in consideration for the issue of new
ordinary shares of 0.01p each in the capital of the Company ("Shares") as set
out below.

The total number of Shares issued to Second AIM VCT shareholders in connection
with the Scheme was 20,489,637, at a deemed issue price of 63.20209575    p per
share.  Following the Scheme there were now 35,850,930 Shares in issue in the
Company.

Application will shortly be made for all the Shares issued pursuant to the
Scheme to be admitted to the Official List and to trading on the main market of
the London Stock Exchange.  It is expected that admission will become effective
and that trading will commence on 13 August 2010.

The Board further announces that following the Scheme becoming effective:

 1.               Christopher Holdsworth Hunt has stepped down as a director;
and

 2.               Elizabeth Kennedy and Alastair Ritchie (directors of Second
AIM VCT) have joined the Board as non-executive directors.

As a result of the passing of the resolution at the general meeting of the
Company on 4 August 2010 and the Scheme becoming unconditional, the name of the
Company has been changed to Octopus Second AIM VCT plc.
For further enquiries please contact:

Celia Whitten
Company Secretary
8 Angel Court
London
EC2R 7HP

Telephone: [phone]


[HUG#1437675]








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Source: Octopus IHT AIM VCT PLC via Thomson Reuters ONE