Issue of Equity/Offer Closed

Proven VCT PLC
04 April 2005


ProVen VCT plc ('the Company')


Issue of Equity and Closure of Offer


The Board is pleased to announce that the Company has made the following share
allotment in accordance with the pricing formula set out in the offer document
containing an offer for subscription for up to 2.2 million Ordinary Shares of 5p
each ('Ordinary Shares') dated 2 March 2005 ('the Offer').

On 1 April 2005, 706,268 Ordinary Shares were issued under the Offer at a price
of 108.15p per share raising £763,857. The total amount raised under the Offer
is £1,700,799. The total number of shares in issue following this allotment is
24,063,033.   Application has been made for the admission of the 706,268
ordinary shares to the Official List of the UK Listing Authority and to trading
on London Stock Exchange plc's market for listed securities.

Following this allotment on 1 April 2005 the Offer was closed.


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