Publication of Circular for a Distribution in S...

Octopus IHT AIM VCT PLC

22 April 2009

Publication of Circular for a Distribution in Specie

Proposed Reconstruction including a Distribution in Specie to 'B'
Ordinary Shareholders and Notice of General Meeting

Octopus IHT AIM VCT PLC (the "Company") announces that it has today
issued a circular (the "Circular") to 'B' Ordinary Shareholders and,
for information only, 'A' Ordinary Shareholders convening a General
Meeting to be held on 3 June 2009.

The purpose of the Circular is to provide details of a reconstruction
including a proposed Distribution in Specie to the 'B' Ordinary
Shareholders of the underlying assets attributable to those Shares.
The Distribution in Specie implements the proposals originally
contained in a prospectus issued by the Company on 6 October 2005.
In the Prospectus, it was stated that following the end of the third
year from the closing of the 'B' Ordinary Share Offer, the 'B'
Ordinary Shareholders wishing to continue with a traditional VCT
investment would have the right to elect to convert all (but not
some) of their 'B' Ordinary Shares into 'A' Ordinary Shares.  After
the expiry of the period during which such elections can be made,
there would be a Distribution in Specie to the remaining 'B' Ordinary
Shareholders so that the underlying portfolio of AIM listed shares
and cash attributable to the 'B' Ordinary Shares would be distributed
to the individual 'B' Ordinary Shareholders pro-rata to their
shareholdings in the Company.   The AIM shares distributed in this
way should then, under current legislation, qualify for business
property relief for inheritance tax purposes once a further two year
qualifying period has elapsed.

Following the Distribution is Specie, the remaining 'B' Ordinary
Shares will be cancelled with the approval of the Court.

'B' Ordinary Shareholders wishing to convert their holdings into 'A'
Ordinary Shares are required to submit conversion notices to the
Company by 29 May 2009.  The General Meeting will be held on 3 June
2009 and it is anticipated that the Distribution in Specie will occur
on 24 June 2009.

Copies of the Circular are available from the Company Secretary at 8
Angel Court, London, EC2R 7HP and may be downloaded from
www.octopusinvestments.com by navigating to the 'VCT Meetings &
Reports' section under the 'Services' section.

For further enquiries, please contact Octopus Investments Limited on
0800 294 6842.


Celia Whitten, Company Secretary
Octopus Investments Limited

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