Investment Company Status

Unicorn AIM VCT PLC
17 August 2004



Unicorn AIM VCT plc (the 'Company')



17 August 2004



Revocation of investment company status



Unicorn AIM VCT plc is pleased to announce that during recent months the
Ordinary Share Fund has realised gains of £3 million through the liquidation of
non-qualifying holdings.



The Board wishes to be in a position going forward to pay capital dividends to
shareholders and has therefore decided that it is no longer appropriate for it
to be an investment company and has revoked its investment company status with
effect from 17 August 2004.



The Board intends to announce a capital distribution to Ordinary Fund
shareholders shortly.





For further information please contact:



Sarah Penfold at Matrix-Securities Limited, the Company Secretary on :

020 7292 0823.












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