QUV Quester Vct 5

Quester VCT 5 PLC                               

                       Update re. Offer for Subscription                       

Further to the announcement dated 18 November 2003 relating to an offer for
subscription the Directors are pleased to announce that approximately �800,000
has been raised to date. The 2003/2004 offer remains open for subscription
until 31 March 2004.

Due to potential changes to the tax benefits relating to subscriptions to VCT's
the directors have now decided to withdraw the 2004/2005 offer.



END

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