Issue of Equity

BioScience VCT plc
14 May 2002


BIOSCIENCE VCT PLC (the 'Company')

14 May 2002


Issue of Shares


The Company announces that at a Board meeting held on 13 May 2002, the Board
issued and allotted 237,304 ordinary shares of 50p each, representing
approximately 3.54 per cent. of the enlarged issued ordinary share capital of
the Company which now consists of 6,710,657 ordinary shares.  226,871 of the new
shares were issued for cash at a price of 100p per share, and 10,433 were issued
for cash at a price of 98p per share, pursuant to the listing particulars dated
17 October 2001.

Application will be made for admission of the new ordinary shares to trading on
the London Stock Exchange, with dealings expected to commence on 15 May 2002.



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