Payment of Interim Dividend & Allotment of Shares

British Smaller Companies VCT plc (the "Company")

Payment of Second Interim Dividend and Allotment of Shares

The Company announces that on 3 March 2015 it paid a further interim dividend ("Second Interim Dividend") of 2.5 pence per ordinary share to shareholders on the register of members of the Company as at the record date of 6 February 2015.

The Company further announces that on 3 March 2015 it issued and allotted 461,272 ordinary shares of 10 pence each pursuant to its dividend re-investment scheme ("Dividend Re-investment Scheme") at a price of 91.485 pence per share to shareholders of the Company who elected to receive shares instead of the Second Interim Dividend. Of the Second Interim Dividend paid by the Company, 22 per cent was, as a result, re-invested in shares in the Company via the Dividend Re-investment Scheme.

As part of this allotment, Edward Buchan, a non-executive director of the Company, was allotted 341 ordinary shares of 10 pence each in the Company. This takes his total shareholding to 12,837 ordinary shares in the Company representing 0.02% of the current issued ordinary shares of the Company.

As part of this allotment the employees of the investment adviser, YFM Private Equity Limited, have been allotted 3,417 ordinary shares of 10 pence each in the Company bringing their aggregate total shareholding to 297,512 ordinary shares of 10 pence each in the Company representing 0.37% of the current issued ordinary shares of the Company.

Application is now being made for the ordinary shares which were issued and allotted on 3 March 2015 to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's Main Market for listed securities, and dealings are expected to commence on or around 17 March 2015.

Following such issue and allotment the Company's issued share capital consists of 79,853,784 ordinary shares with voting rights ("Voting Capital") and 3,225,333 shares held in treasury.

The above statement of Voting Capital may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information please contact:

David Hall YFM Private Equity Limited Tel: 0113 244 1000

Emily Watts Nplus 1 Singer Advisory LLP Tel: 020 7496 3000