QUESTER VCT 5 PLC

FOR IMMEDIATE RELEASE

CONFIRMATION OF RELEASE IS REQUIRED

FOR THE ATTENTION OF RNS ONLY

CONTACT: NAMBIA FERGUSON 020 7222 5472

                       Quester VCT 5 plc ("the Company")                       

The directors are pleased to announce that the Company has made its first
allotment of 107,938 ordinary shares of 1p each in the Company at a price of
98.947p per share under the 2003/04 offer for subscription announced on 14
November 2003.

It is expected that dealings will commence on Wednesday 3 December 2003.

For further information please contact John Spooner or Richard Drover at
Quester on 020 7222 5472.

2 December 2003

                                                                Announc 2 12 03



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