DHP Darwen

RNS No 1766q
DOWNING HEALTHCARE PROTECTED VCT PLC
16th March 1999


The Company announces an interim dividend of 3.0p (2.4p net) per share for the 7
month period to 31 January 1999.  This dividend will be paid on 1 April 1999 to
shareholders on the register on 26 March 1999.

The dividend is based on the Company's unaudited revenue profit  before tax of
#288,724 for the period and revenue reserves brought forward of #39,835 as shown
in its unaudited management accounts set out below .  The accounts will be filed
at Companies House prior to payment of the dividend.

The Company's interim accounts for the period ended 31 December 1998 are
currently being prepared and an appropriate announcement will be made in due
course.

Enquiries

Tony McGing         Downing Corporate Finance  0171 416 7780

Unaudited Statement of Total Return (incorporating the revenue account) for the
7 months period ended 31 January 1999.

                                       Revenue          Capital       Total
                                          #                #            #

Income                                  334,388            -         334,388
Net Gain on Investments                    -             53,548       53,548
Management Fees                         (14,429)        (14,429)     (28,858)
Other Expenses                          (31,235)           -         (31,235)

Operating Profit                        288,724          39,119      327,843

Corporation Tax                         (69,977)          3,752      (66,225)

Profit before Tax                       218,747          42,871      261,618

Retained Profit B/fwd                    39,835         (97,715)     (57,880)

                                        258,582         (54,844)     203,738

Net Dividend payable (2.4p net)        (235,487)           -        (235,487)

Retailed Profit                          23,095         (54,844)     (31,749) 


Unaudited Balance Sheet as at 31 January 1999            #              #

Non Qualifying Investments                                         4,078,685
Qualifying Investments                                             4,850,000

                                                                   8,928,685

Current Assets

Cash at Bank                                                         476,357
Debtors                                                              412,437
Creditors amounts due within one year                               (527,866)

Net Assets                                                         9,289,613 

Capital Reserves   

Called up share capital                                            4,905,980
Share premium account                                              4,905,980
                                                                   9,811,960
Issue Costs                                                         (490,598)

                                                                   9,321,362

Reserves:                                                            (54,844)
Retained net revenue                                                  23,095

                                                                      31,749

Total shareholders' funds                                          9,289,613

Net asset value per share (pence)                                       94.7

END

IR KLGMFKVNLLMM

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