PUMA VCT II PLC

Issue of Equity

The Directors of Puma VCT II plc are pleased to announce that the Company has
applied for all of the shares allotted pursuant to the offer for subscription on
21 January 2005, being 8,299,100 Ordinary Shares of 1p each at a price of 100p
per share to be admitted to the Official List. The shares were allotted on the
following dates:

Date of Allotment        Number of Shares

5 April 2005                    4,805,100

5 May 2005                      1,910,000

31 May 2005                     1,584,000

Dealing of the shares is expected to commence on 9 June 2005.

For further information please contact: Jonathan Paisner at Shore Capital Group
plc on 020 7408 4090.
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