Issue of Equity

Proven VCT PLC
13 June 2005

ProVen VCT plc ('The Company')
13 June 2005

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 13 June 2005, 67,252 Ordinary Shares were issued under the Offer at a price
of 112.93p per share raising £75,945. The total amount raised under the Offer is
£693,413. The total number of shares in issue following this allotment is
24,701,194. Application will be made for the admission of the 67,252 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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