NHF Noble Hlth FD.

    Noble Health Fund VCT plc

Change of manager

Following the announcement within the last interim management statement on 19 December 2008 the Board has supported the
transfer of the management of the Company and its investments from Noble Fund Managers Limited and Noble Corporate
Management Limited (together "Noble") to Beringea Limited ("Beringea") with effect from 1 February 2009. This transfer
has been agreed at no cost to the Company and on materially the same terms. Dr Stephane Mery will move to Beringea and
will continue to be involved in the Company's management and its investments and Dr Louis Nisbet will continue to
represent the Company on the boards of a number of investee companies.

Beringea is an established VCT manager, having managed ProVen VCT and ProVen Growth & Income VCT since they were
launched in 2000 and 2001 respectively.  The initial ordinary share issues of these VCTs are the second and fifth best
performing respectively of more than 100 initial VCT share issues with a track record of over two years.* It is
anticipated that there will be opportunities for the Noble Health Fund VCT to co-invest with the existing ProVen VCTs,
allowing it to invest in larger, more established companies than is possible at present.  The Beringea Group also has
experience of healthcare venture capital investing, having managed a healthcare venture capital fund in the USA for nine
years.  Beringea won the 2008 VCT Fund Manager of the Year Award at the Growth Company Awards and its investment
management team has more than 60 years combined experience of making and managing venture capital investments.   

It is also part of the agreement between Noble and Beringea that the Board will propose a name change to shareholders to
reflect the new management in the New Year.

*Source:  www.taxefficientreview.com, VCT performance page as at 15 December 2008, based on annual rate of return since
launch.

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