RNS Number:5134P
Phoenix VCT PLC
08 September 2003


PHOENIX VCT PLC (the "Company")

8 SEPTEMBER 2003

ISSUE OF EQUITY

Phoenix VCT plc announces that on Friday 5 September 2003 it issued and allotted
75,788 ordinary shares under the 2003/04 Offer for Subscription. The issued
share capital of the Company is now 9,240,552 ordinary shares. The new shares
were issued at a price of 100p each.

Application will be made for admission of the new ordinary shares to trading on
the London Stock Exchange as soon as practicable.







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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