RNS Number:5924Q
Phoenix VCT PLC
06 October 2003


PHOENIX VCT PLC (the "Company")

6 OCTOBER 2003

ISSUE OF EQUITY

Phoenix VCT plc announces that on Friday 3 October 2003 it issued and allotted
51,853 ordinary shares under the 2003/04 Offer for Subscription.  The issued
share capital of the Company is now 9,422,655 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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