Offer for Subscription

ProVen VCT plc and ProVen Growth and Income VCT plc
20 November 2009
Offer for Subscription

ProVen VCT plc  and ProVen Growth  and Income VCT  plc (together  the
"Companies") announce  that they  have published  a joint  Prospectus
(comprising a Securities Note, Registration Document and Summary)  to
raise  up  to,  in  aggregate,  £20m  through  a  linked  offer   for
subscription (the "Offer").

The Offer will open  at 8am on  20 November 2009  and is expected  to
close  at  5pm  on  5  April  2010  in  relation  to  the  offer  for
subscription in respect of the 2009/2010 tax year and on 31 May  2010
in relation to the offer for subscription in respect of the 2010/2011
tax year (or an earlier date on which fully subscribed). The Offer is
for up to, in aggregate, 20,000,000 D ordinary shares of 1 pence each
("D Shares"),  to be  issued at  a price  of £1.00  each and  divided
equally between the Companies.

Applications received up to 5.00 pm on 29 January 2010 will be issued
1 per cent. additional D Shares.

To obtain  a  copy of  the  Securities Note,  private  investors  and
Financial Advisers should call the investment manager, Beringea  LLP,
on 020 7845  7820 or  0845 686 0225.  A downloadable  version of  the
Securities Note will also be available from www.provenvcts.com.

A copy of the Prospectus (comprising a Securities Note,  Registration
Document  and  Summary)  is  available,  free  of  charge,  from  the
registered office of the Companies or from:

Beringea LLP
39 Earlham Street
London WC2H 9LT

The Prospectus and a  circular to shareholders of  ProVen VCT plc  in
connection with the Offer have been  submitted to the UKLA, and  will
shortly be available  for inspection at  the UKLA's Document  Viewing
Facility, which is situated at:

Financial Services Authority
The North Colonnade
Canary Wharf
London E14 5NS

For further information please contact:
Shane Elliott or Anna Blacklock      Beringea LLP     020 7845 7820

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.