Issue of Equity

Proven VCT PLC
06 April 2005


ProVen VCT plc ('the Company')
Issue of Equity

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 2.4 million Ordinary Shares of 5p
each ('Ordinary Shares') dated 4 April 2005 ('the Offer').

On 5 April 2005, 463,278 Ordinary Shares were issued under the Offer at a price
of 108.15p per share raising £501,053. The total number of shares in issue
following this allotment is 24,526,311.   Application will be made for the
admission of the 463,278 ordinary shares to the Official List of the UK Listing
Authority and to trading on London Stock Exchange plc's market for listed
securities.


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