Fund Management Arrangements

24 Mar 2005 16:17

Murray VCT 2 PLC24 March 2005 Murray VCT plc, Murray VCT 2 plc, Murray VCT 3 plc and Murray VCT 4 plc Joint Statement on Fund Management arrangements March 24, 2005 Murray VCT plc, Murray VCT 2 plc, Murray VCT 3 plc and Murray VCT 4 plc announcethat they have reviewed the future management of the four Trusts' portfolioswith Close Venture Management Limited and Murray Johnstone Limited. As previously announced, Close Venture Management Limited will take overmanagement of the portfolios of Murray VCT, Murray VCT 2 and Murray VCT 3. It isnow expected that the handover to Close Venture Management Limited will takeplace as soon as practicable. Murray VCT 4 announced on February 8 that it had served notice of termination onMurray Johnstone Limited which was to expire in six months. However, the trustannounces that it is now in fresh discussions with Murray Johnstone Limitedregarding a new contract. It is intended that this notice of termination will bewithdrawn in the event of successful completion of these discussions. A furtherannouncement will be made following the conclusion of these discussions. The Board of each of the Murray VCTs believes that the envisaged new fundmanagement arrangements are in the best interests of all of its shareholders.Each of the chairmen of the Murray VCTs will provide full details toshareholders soon. - Ends - Media inquiries: Beattie Communications - Derek Douglas - 01324 602550 Maitland - Neil Bennett, Fiona Piper - 0207 3795151 This information is provided by RNS The company news service from the London Stock Exchange