RNS Number:0514Q
Phoenix VCT PLC
23 September 2003


PHOENIX VCT PLC (the "Company")

23 SEPTEMBER 2003

ISSUE OF EQUITY

Phoenix VCT plc announces that on Monday 22 September 2003 it issued and
allotted 130,250 ordinary shares under the 2003/04 Offer for Subscription.  The
issued share capital of the Company is now 9,370,802 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.







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