Albion. Dev Vct Regulatory News (AADV)

17 May 2005 16:21

Close Brothers Dev VCT PLC17 May 2005 CLOSE BROTHERS DEVELOPMENT VCT PLC Revised Asset Value and Interim Dividend The Company has decided to declare an interim dividend for the current financialyear at a rather earlier date than normal. The introduction of the newInternational Financial Reporting Standards is likely to change the way in whichthe Company currently accounts for the payment of dividends. An early interimdividend is therefore likely to give the Company more flexibility ensuring thatany change in accounting treatment that may be required can be accommodatedwithin the Company's overall strategy of maintaining a strong and reasonablypredictable dividend yield. The Company therefore declares an interim dividend for both the Ordinary Sharesand the C Shares of 1.8 pence per Share (2004: 1.8p for the Ordinary Shares, and1.1p for the C Shares) payable on 14 June 2005 to shareholders on the registeron 27 May 2005. 1 penny of the C Shares' dividend is being paid out of realisedcapital profits, and the Company has consequently relinquished its investmentcompany status. The Company's unaudited net asset value at 30 April 2005, after allowing for theinterim dividends referred to above, was 96.4 pence per Ordinary Share and 104.1pence per C Share. 17 May 2005 For further information: Patrick Reeve Close Venture Management Tel: 020 7422 7830 This information is provided by RNS The company news service from the London Stock Exchange