January Update

Unicorn AIM VCT PLC
9 January 2002

Unicorn AIM VCT PLC

January update


The board of Unicorn AIM VCT PLC is pleased to announce that as at 4 January
2002, some £11m of the maximum £35m available for subscription has been
raised.  Ordinary shares representing the majority of the sum raised are now
trading on the Official List, but some funds are being held for allotments in
the 2002/03 tax year.  The issue remains open for further subscriptions until
further notice.

On behalf of the Company, the Company's fund manager, Unicorn Asset Management
Limited, has invested a total of £4.7m in 24 companies, two of which are
qualifying investments under the VCT investment regulations where a total of £
0.5m has been invested.


Notes to editors:

The objective of the Company is to provide shareholders with an attractive
return from a diversified portfolio of investments which will ultimately be
predominantly invested in the shares of AIM companies. The directors believe
that during the initial three year investment period, it is important to
safeguard the capital available for investment in AIM companies. To achieve
this 50% of the net proceeds will be invested in cash or near cash
instruments. The balance will be invested as to approximately 15% in a Unicorn
OEIC and 35% in a portfolio of shares, both comprising listed UK smaller
companies.

Qualifying AIM investments:

Staffing Ventures £250,000 Recruitment services company

Spring Grove £250,000 Routine maintenance and service company for local
authority landlords


Total in Qualifying investments £500,000

Contact details for further queries:

Bridget Cleverly at Matrix Group Ltd. 020 7292 0851

Peter Walls at Unicorn Asset Management Ltd. 020 7253 0889