Result of Equity Issue

Unicorn AIM VCT PLC
03 June 2004

Unicorn AIM VCT plc (the 'Company')

3 June 2004

Offer for subscription closed

The Board of Unicorn AIM VCT plc is pleased to announce that the Offer for
Subscription for Series 2 Ordinary Shares made by the Company in its prospectus
dated 20 January 2004 and a supplementary Prospectus dated 5 April 2004 has now
closed.  A total of 15,763,314 Series 2 Shares have been issued and allotted
subsequent to the Offer, the shares being subscribed for in full at £1 per
share.

The issued share capital of the Company is 34,787,234 Ordinary Shares and
15,763,314 Series 2 Ordinary Shares.

It is the Company's objective to provide shareholders with an attractive return
from a diversified portfolio of investments, which will be predominantly
invested in the shares of AIM companies.

Its funds are managed by Unicorn Asset Management Limited, which has an
exceptional track record in the domain of smaller companies investment.

For further information please contact:

Sarah Penfold at Matrix-Securities Limited, the Company Secretary on: 020 7292
0823.

END



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