Offer for Subscription

ProVen VCT plc and ProVen Growth and Income VCT plc
20 November 2008
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 2008 and is expected to
close at 5pm on 3 April 2009 in relation to the offer for
subscription in respect of the 2008/2009 tax year and on 29 May 2009
in relation to the offer for subscription in respect of the 2009/2010
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 2 January 2009 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, 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 Limited
39 Earlham Street
London WC2H 9LT

The Prospectus and a circular to shareholders of the Companies 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 Limited     020 7845
7820

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