rRNS Number:2689L
Phoenix VCT PLC
19 May 2003


PHOENIX VCT PLC (the "Company")


ISSUE OF EQUITY


Phoenix VCT plc announces that on Friday 16 May 2003 it issued and allotted
311,083 ordinary shares under the 2003/04 Offer for Subscription. The issued
share capital of the Company is now 8,580,036 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.







                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
IOEBSGDURGBGGXC