RNS Number:7962N
Phoenix VCT PLC
21 July 2003

PHOENIX VCT PLC (the "Company")



21 JULY 2003



ISSUE OF EQUITY



Phoenix VCT plc announces that on Friday 18 July 2003 it issued and allotted
109,236 ordinary shares under the 2003/04 Offer for Subscription.  The issued
share capital of the Company is now 8,970,946 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.




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            The company news service from the London Stock Exchange
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