Issue of Equity/Offers close

BioScience VCT plc
26 July 2002



BIOSCIENCE VCT PLC

ISSUE OF EQUITY/ OFFERS CLOSE

BioScience VCT plc announces that on 12 June, 18 July and 23 July it issued and
allotted 306,021, 111,181 and 10,000 ordinary shares respectively under the
Offers for Subscription.  The issued share capital of the Company is now
7,137,859 ordinary shares.  The new shares were issued at a price of 100p each.
Application will be made at the earliest practicable opportunity for admission
of the new shares to trading on the Official List.

Dr Paul Nicholson, Chairman has subscribed for 10,000 shares and Mr Charles
Breese, Director, has subscribed for 5,000 shares under the Offers, representing
0.14% and 0.07% of the issued share capital.

The Offers for Subscription dated 17 October 2001 are closed with effect from
today.  The Company has issued and allotted a total of 7,137,859 ordinary shares
under the Offers and has received a total of £7,061,339.46 before expenses.





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