Issue of Equity

Proven VCT PLC
27 June 2005


Issue of Equity and Closure of Offer

ProVen VCT plc ('the Company')

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 27 June 2005, 652,398 Ordinary Shares were issued under the Offer at a price
of 112.92p per share raising £736,670. The total amount raised under the Offer
is £1,430,083. The total number of shares in issue following this allotment is
24,625,354.   Application will be made for the admission of the 652,398 ordinary
shares to the Official List of the UK Listing Authority and to trading on London
Stock Exchange plc's market for listed securities.

As part of this issue of Ordinary Shares pursuant to the Offer, Andrew Davison,
Chairman of the Company, purchased 4,428 Ordinary Shares. Mr Davison's
shareholding of 4,428 Ordinary Shares represents approximately 0.02% of the
Company's issued share capital.

Following this allotment on 27 June 2005 the Offer was closed.


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