Director/PDMR Shareholding

ALBION DEVELOPMENT VCT PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

This form is intended for use by an issuer to make a RIS notification required by DTR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24 - see below.

(2) An issuer making a notification in respect of a derivative relating to the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24 - N/A.

(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24 - N/A.

(4) An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24 - N/A.

1. Name of the issuer

Albion Development VCT PLC

2. State whether the notification relates to (i) a transaction notified in accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(c) a disclosure made in accordance with section 793 of the Companies Act 2006; or

(iii) both (i) and (ii)

Notification in accordance with (iii)

3. Name of person discharging managerial responsibilities/director

J. G. T. Thornton (Director)

P.H. Reeve (Managing Partner - Albion Ventures LLP, the Investment Manager)

A. Elder (Partner - Albion Ventures LLP)

D.Gudgin (Partner - Albion Ventures LLP)

C.Ruedig (Investment Manager - Albion Ventures LLP)

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

J. G. T. Thornton is a Director of Albion Development VCT PLC. The other individuals referred to in 3 above are staff of Albion Ventures LLP, the Investment Manager.

5. Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest

The notification is in respect of direct holdings of the individuals referred to in 3 above.

6. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Ordinary shares of 1p each

D Shares of 1p each

7. Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

J. G. T. Thornton - 40,302 Ordinary shares and 10,400 D shares

Shares held by nominee - 20,000 Ordinary shares

Shares held by family members - 26,787 Ordinary shares

P. H. Reeve - 12,842 Ordinary shares and 38,108 D shares (Direct)

Shares held by nominee - 47,002 Ordinary shares (Nominee)

A. Elder - 2,153 Ordinary shares and 10,884 D shares

D.Gudgin - 4,064 Ordinary shares and 10,400 D shares

C.Ruedig - 4,145 Ordinary shares

8 State the nature of the transaction

Allotment under the Albion Development VCT PLC dividend reinvestment scheme

9. Number of shares, debentures or financial instruments relating to shares acquired

J. G. T.Thornton 1002 Ordinary shares

P. H. Reeve 450 Ordinary shares and 718 D Shares

A. Elder 75 Ordinary shares and 204 D Shares

D.Gudgin 142 Ordinary shares

C.Ruedig 145 Ordinary shares

10. Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

0.006% Ordinary shares

0.014% D Shares

11. Number of shares, debentures or financial instruments relating to shares disposed

Nil

12. Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

N/A

13. Price per share or value of transaction

£0.714 per Ordinary share

£0.9295 per D Shares

14. Date and place of transaction

Dividend reinvestment scheme - allotment date 28 September 2012.

15. Total holding following notification and total percentage of share class holding following notification (any treasury shares should not be taken into account when calculating percentage)

J. G. T. Thornton - 41,304 Ordinary shares (0.129%) and 10,400 D shares (0.163%)

Shares held by nominee - 20,000 Ordinary shares (0.063%)

Shares held by family members - 26,787 Ordinary shares (0.084%)

P. H. Reeve - 13,292 Ordinary shares (0.042%) and 38,826 D shares (0.609%) (Direct)

Shares held by nominee - 47,002 Ordinary shares (0.147%) (Nominee)

A. Elder - 2,228 Ordinary shares (0.007%) and 11,088 D shares (0.174%)

D.Gudgin - 4,206 Ordinary shares (0.013%) and 10,400 D shares (0.163%)

C.Ruedig - 4,290 Ordinary shares (0.013%)

16. Date issuer informed of transaction

28 September 2012

Name of contact and telephone number for queries

Isabel Dolan - Tel: 020 7601 1850

Partner of Albion Ventures LLP as Company Secretary to Albion Development VCT PLC

28 September 2012

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Albion Development VCT PLC - Ordinary Shares via Thomson Reuters ONE

HUG#1644512

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