Investment Update

FORESIGHT TECHNOLOGY VCT PLC
20 September 1999


FORESIGHT TECHNOLOGY VCT PLC

INVESTMENT UPDATE

Foresight  Technology VCT plc ('Foresight' or  'the  Company')
has   to   date,   invested,  or  is  committed   to   invest,
approximately  £7  million representing approximately  64  per
cent. of its  portfolio.

The  Company is delighted to announce some recent changes  to,
and developments within, this portfolio.

Policy Master Group Plc is a leading supplier of software  and
services to the insurance industry with a trading facility  on
AIM.   Foresight  has recently realised its  investment  at  a
value of £360,000, representing a 100 per cent. premium on the
cost of its original investment made in July 1998.

Sapphire Group Limited owns the established 'Data Ease' family
of   computer  database  software  products  which   have   an
international   base  of  several  hundred   thousand   users.
Foresight's  original investment, made in July  1998,  was  £1
million, of which £400,000 was in 10 per cent. unsecured  loan
stock  with  the balance in equity at a price of 41.5p  per
share.  Sapphire Group Limited has recently completed a second
round  equity  financing,  with a third  party,  which  values
Foresight's  investment at a premium of 80 per  cent.  on  the
original equity investment.

SyNet  Communications  Limited runs an  internet  portal  site
providing an increasing number of facilities including on-line
games,  email,  personal home pages and chat  with  e-commerce
having  recently  been  launched. The business  has  developed
significantly and now has approximately 1.2 million registered
users and generates about 61 million page hits per month.  The
management  of SyNet Communications Limited are  evaluating  a
number  of  methods  to finance the continued  growth  in  the
business which includes the possibility of a flotation in due
course.

The  Company  and  VCF  partners,  the  Company's  investment,
advisers,  are  in  the final stages of completing  a  further
internet venture capital investment with an aggregate value of
£1 million.

Foresight  intend to make further announcements as appropriate
to  ensure shareholders and warrantholders are kept up to date
with developments within the venture capital portfolio.