Corporate Update

For Immediate Release
9 February 2011


                                 Hygea VCT plc
                           ("Hygea" or "the Company")

                                Corporate Update

Hygea VCT has sent the following corporate update letter to its Shareholders
today:

                                                                 9 February 2011

Dear Shareholder,

                                       Shareholder Update

Following our year end on 31st December 2010, I am writing to give Shareholders
a brief update in advance of the publication of our audited results. We expect
to announce our results at the beginning of April 2011 and have arranged for our
Annual General Meeting to be held in London on Wednesday 11 May at noon.

Since the publication of our last Interim Management Statement, I am pleased to
say that we have received further proceeds from our disposal of DxS amounting to
£223,405 reflecting DxS's achievement of milestones. We have now received
£554,605 since the original sale of our holding and expect further sums in due
course.

However, during the period Freehand Surgical was placed into administration due
to last minute difficulties in finding co-investment partners at an acceptable
valuation. Our holding, which was last valued at £687,753, will therefore be
written off. We continue to believe that the prospects for the Freehand product,
the rights to which have been purchased by Freehand 2010, remain very compelling
and, therefore, since the year end, we have invested £250,000 in Freehand 2010
which we expect will maintain our shareholding at around 10%.

In the last quarter of 2010 we have also subscribed £200,000 in a new
fundraising for Omega Diagnostics at 12p per share and have purchased 100,000
shares in Tristel plc for £55,480.

In addition to our portfolio of unquoted companies, at the year end Hygea's
unaudited accounts include quoted shares valued at a bid price of £2,155,170 and
cash of £764,186.

Since the year end Hygea has subscribed £72,340 into Archimed Limited, a wound
care business which has been spun out of Insense.

Although the overall market conditions for medtech companies are tough, many of
our investees are making good progress.

Yours  sincerely,


James Otter.
Chairman.


END.


Enquiries:

Charles Breese, Hygea VCT plc on 01280 703482 [e-mail]

Roland Cornish, Beaumont Cornish Limited on 020 7628 3396









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Source: Hygea VCT plc via Thomson Reuters ONE

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