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Downing Classic VCT (CAV)

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Friday 07 November, 2003

Downing Classic VCT

Invstmnt Management Agreement

Downing Classic VCT PLC
07 November 2003

Downing Classic VCT plc
7 November 2003

Downing Classic VCT plc has today given notice to Classic Fund Management
Limited to terminate the Investment Management Agreement on 7 November 2004,
being the earliest date on which such contract can be terminated.

The Board is taking steps to ensure the quality of the management of the
Company's venture capital portfolio up to that date and thereafter and will
report any major developments to Shareholders as they arise.

For further information, please contact:
Robert Drummond              Director                          07831 091545
Grant Whitehouse             Company Secretary                 020 7416 7780

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                        

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