Investment Update

TriVest VCT PLC
4 April 2001


TriVest VCT Plc

Investment Update and date for Close of Offer for Subscription

TriVest  VCT Plc (the Company) is pleased to  announce  3
further  investments made during March, details of  which
are enclosed below.

Heritage Image Partnership Limited ('HIP')

HIP is creating an online library of images available  to
all  customers over the internet and has exclusive access
to  content from five heritage institutions; the  British
Library, the Science Museum, the National Railways Museum
and   the  National  Museum  of  Photography,  Film   and
Television.   Images will be sold to media companies  and
advertising  and  design  companies.   The  Company   has
invested  £300,000 in HIP in return for 6.2 per cent.  of
the equity.  The net proceeds of the fund raising will be
utilised  principally for working capital.  HIP  has  not
yet produced audited accounts.

Xpert Client Systems Limited ('Xpert')

Xpert  is a provider of software asset management  tools.
The  Company  has  developed innovative technology  which
automatically  builds a profile of the  actual  image  of
software  by each user and compares it with the inventory
of  software installed on each PC and the licences owned.
This  enables customers to monitor legal compliance  with
their  software licences.  Xpert's products are installed
on  25,000  PCs  in  over 100 companies including  Racal,
Volvo,  Fujitsu  and  Sony.   The  company  has  invested
£250,000  in Xpert as part of a £1.75 million fundraising,
in  return  for 4.7% of the equity.  The net proceeds  of
the fund raising will be utilised for capital expenditure
and  working capital.  The last audited accounts were for
the  period  to  31 July 2000 and recorded:  loss  before
taxation  £320,880,  retained loss £775,000,  net  assets
£287,249.

Watkins Books Limited ('Watkins')

Watkins  is  a  specialist  supplier  of  books  with  an
international  brand  name.   The  Company  has  invested
£500,000  through  the  issue  of  ordinary  shares   and
£200,000 of Convertible Secured Loan Stock 2006  with  an
option for Watkins to call down a further £250,000 if the
company is performing as per its business plan but  needs
further  financing for expansion.  The proceeds from  the
fundraising  will provide Watkins with an opportunity  to
develop its brand through all mediums be it e-commerce or
traditional  forms of mail order and  retail.   The  last
audited accounts were for the period ending 31 March 2000
and recorded: loss before taxation £35,137 and net assets
of £73,868.

The   Company   also  announces  that   its   Offer   for
Subscription, announced on 13 October 2000 will close  on
6 April 2001.