Issue of Equity

Hazel Renewable Energy VCT1 plc
Hazel Renewable Energy VCT2 plc
Issue of Equity
12 August 2011

The  Boards of Hazel  Renewable Energy VCT1  plc ("Hazel 1") and Hazel Renewable
Energy  VCT2 plc ("Hazel  2") announce allotments which  took place on 12 August
2011 in  respect  of  funds  that  have  been  raised under the joint Offers for
Subscription ("Offers") of the companies that opened on 20 October 2010.

Details  of the allotments  of ordinary shares  of 0.1p each ("Ordinary Shares")
and A shares of 0.1p each ("A Shares") which took place on 12 August 2011 are as
follows:

                             Issue price         Number of
 Company   Share class         per share   shares allotted

 Hazel 1   Ordinary Shares         99.9p         6,141,640

 Hazel 1   A Shares                 0.1p         6,141,640



 Hazel 2   Ordinary Shares         99.9p        6,141,265

 Hazel 2   A Shares                 0.1p        6,141,265



Included  in the above are shares allotted to Ben Guest, a director of Hazel 1,
as follows:
                                             Issue price         Number of
 Director/PDMR   Company   Share class         per share   shares allotted

 Ben Guest       Hazel 1   Ordinary Shares         99.9p           210,000

 Ben Guest       Hazel 1   A Shares                 0.1p           210,000



In   addition,   the  following  A  Shares  (being  Management  A  Shares)  were
unconditionally  allotted  on  12 August  2011 to  directors  of  the respective
companies as follows:

                                                              Number of
                                               Issue             shares
                                               price    unconditionally
 Director/PDMR     Company   Share class   per share           allotted

 Ben Guest         Hazel 1   A Shares           0.1p          5,389,322

 Christian Yates   Hazel 2   A Shares           0.1p          5,386,085


Application  for  the  Ordinary  Shares  and  A  Shares  of both companies to be
admitted  to the Official List of the UK Listing Authority and to trading on the
London  Stock  Exchange's  market  for  listed  securities  will  be made at the
earliest practical opportunity.

The Offers have now closed.  Total gross proceeds of the Offers were £41.6
million.






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Source: Hazel Renewable Energy VCT 1 plc via Thomson Reuters ONE

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