Publication of a Prospectus

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA.

This announcement does not constitute an offer to sell, or the solicitation of an offer to subscribe for, or to buy shares in any jurisdiction.

Baronsmead Second Venture Trust plc

9 January 2019

Publication of a Prospectus and Offer for Subscription

Baronsmead Second Venture Trust plc and Baronsmead Venture Trust plc have published a prospectus in relation to offers for subscription to raise up to £25 million in aggregate (before costs) (the "Offers").

The Offers are now open and are expected to close no later than 15 March 2019 (unless fully subscribed by an earlier date). All subscriptions will be processed on a "first come, first served" basis and there will be no exclusive period for existing shareholders. Investors can subscribe for new shares by completing a paper subscription form or, for the first time, online by logging on to www.computershare.co.uk/baronsmeadvcts and completing an electronic subscription form.

The prospectus will shortly be available for inspection at the National Storage Mechanism which is located at http://www.morningstar.co.uk/uk/nsm.do.

The prospectus and paper subscription form are also available on the Baronsmead website at http://www.baronsmeadvcts.co.uk and copies are available for collection during normal business hours on any working day (Saturday, Sunday and public holidays excepted) until 15 March 2019 from the offices of Gresham House, Octagon Point, 5 Cheapside, London EC2V 6AA.

For IFA enquiries please contact RAM Capital Partners LLP on 020 3006 7530 or email taxsolutions@ramcapital.co.uk for document requests.

For further information please contact:

Baronsmead VCT Investor Relations

020 3837 6270

baronsmeadvcts@greshamhouse.com