RNS Number:3652L
British Smaller Tech Cos VCT PLC
21 May 2003


British Smaller Technology Companies VCT plc


Net Asset Value


The net asset value of the Company at 31 March 2003 was 55.1p per share (31
December 2002 : 52.6p per share).


Sir Andrew Hugh Smith, Chairman, said "whilst the economic climate remains
depressed, some of the uncertainty has been removed. The Board is cautiously
optimistic about the prospects for substantial capital growth in the portfolio
as a whole."


At the AGM held on May 15, all the ordinary resolutions were passed by
shareholders, however the special resolutions to further extend the existing
authorities under sections 80 and 95 of the Companies Act were not passed.


At the EGM following the AGM, all the resolutions required to effect the
cancellation of the share premium account, the authority to repurchase shares,
and the amendment of article 145 were passed.


ENDS







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