Top Up offer

Pembroke VCT plc (the "Company")

Offer for Subscription

The Company announces that, having already raised £16.5 million, it has today published a Top Up Offer document (the "Offer Document") in connection with proposals to raise up to a further £1,649,200 through an offer for subscription of new ordinary shares (the "Offer").

The Offer opens on 27 February 2014 and is expected to close at noon on 4 April 2014 in relation to the offer for subscription in respect of the 2013/2014 tax year, and at noon on 30 June 2014 in relation to the offer for subscription in respect of the 2014/2015 tax year (or on an earlier date if the maximum subscription is received).

A downloadable version of the Offer Document will be available from www.pembrokevct.com.

For further information please contact:

Pembroke VCT plc

+44 20 7766 6900

Peter Dubens / Andrew Wolfson

FTI Consulting

+44 20 7831 3113

Edward Bridges

Palmer Capital LLP (Promoter)

+44 20 7766 6900

James Bruce

The City Partnership (UK) Limited (Company Secretary)

+44 131 243 7215

Doreen Nic