New Investment

Murray VCT 4 PLC
23 May 2000


The following new investment has been made, this being the first investment
since the launch in early April 2000:-

ELE Advanced Technologies Limited - May 2000 - £640,775: Based in Lancashire,
ELE is a leading UK manufacturer of precision components for the aerospace,
automotive and land based gas turbine industries. The company is a major
player in the precision machining of sophisticated materials, utilising laser
drilling, electrochemical forming, stem drilling, capillary drilling and
electric discharge machinery technology. It also has extensive traditional CNC
turning, milling and grinding capabilities. The total fundraising was
approximately £7 million. Murray VCT, Murray VCT 2 and Murray VCT 3 were
co-investors. 

At 17 May 2000, Murray VCT 4 PLC had made one investment at a cost of £0.64
million, which represents a qualifying investment level of approximately 2%.