Albion Kay Vct Regulatory News (KAY)

15 May 2007 18:15

QUESTER VCT PLC ("the Company") NET ASSET VALUE

Below is a letter that will be sent to the Company's shareholders providing more information regarding the acquisition of the Manager of the Company by NewMedia SPARK plc. In addition, the letter states that the unaudited net asset value per share as at 28th February 2007 was 41.6p and cumulative total return based on the unaudited results increased by 1pps to 88.3p.

"Dear shareholder

Manager of Quester VCT plc acquired by NewMedia SPARK plc

I am pleased to inform you that Quester, the manager of Quester VCT plc has been acquired by NewMedia SPARK plc, the AIM listed technology venture capital company focused on early stage investment.

Your board believes that the acquisition by SPARK will provide greater access to some of the UK's best early stage entrepreneurs and investment managers as well as broaden the investment opportunities available to the Quester managed funds and VCTs. The combined group has the potential to deliver enhanced long-term returns for our investors, additional investment opportunities, and a wider spread of investments. The board of Quester VCT met three potential acquirers of Quester and has held meetings with SPARK to discuss its plans for the future management of Quester VCT which will be carried forward on the existing basis.

Together, the combined group will manage funds of over ‚£275 million including the Quester Venture Partnership - an institutional fund, the three Quester managed VCT funds - Quester VCT, Quester VCT4 and Quester VCT5, and funds linked to universities, including Oxford.

SPARK has a focus on new media, with a particular emphasis on digital media, software applications, technology and communications, which complements Quester's own activities in this area. Quester's strong healthcare business will be a platform for SPARK's new focus in this area.

SPARK's team specialising in early stage investment has been broadly the same for eight years. It changed its strategy in 2002 after the dramatic growth of SPARK in the previous three years, to focus solely on early stage investing and has achieved somewhat better returns than Quester since that date. In addition, SPARK has a strong balance sheet which should provide opportunities for access to new sources of capital. SPARK sees considerable benefit in acquiring Quester's expertise in managing third party funds.

There is a great synergy between Quester and SPARK. SPARK will be working with Quester's team to maximise the value of Quester VCT's existing portfolio, to extend the breadth of investment opportunities and to utilise its VCT expertise. The deal brings together two compatible companies with common values and a track record of co-investment, including Footfall which was successfully sold to Experian in 2006. We believe that the acquisition will benefit both Quester's investors and its portfolio companies and we look forward to our future together.

I would like to confirm that we will be announcing our Preliminary Results for Quester VCT plc next week. At this stage I can report that, the unaudited net asset value per share as at 28th February 2007 was 41.6p. Shareholders would have already received a dividend of 2.8p per share paid on 21st March 2007, in place of a final dividend: the net asset value does not reflect this dividend. The total dividends paid in the year ended 28th February 2007 were 3.9p per share. The cumulative total return based on the unaudited results, show an increase of 1pps to 88.3p.

Yours sincerely,Jock BirneyChairman"Enquiries:QuesterAndrew Holmes/John Spooner0207222 5472

15 May 2007