TST Touchstar Plc

    TriVest VCT plc (the "Company")

12 September 2007

Changes to the management arrangements

The Board is today announcing details of proposed changes to its existing
management arrangements.

The Board has been aware for some time that Nova Capital Management Limited
(`Nova') would wish to terminate its management agreement with the Company when
it believed it had discharged the tasks and responsibilities set out in its
mandate in order to concentrate on its core businesses. Several months ago Nova
and the Board concluded that this position had now largely been reached.

In the light of this and having reviewed extensively various options, the Board
considered that it would be in the best interests of Shareholders to change the
Company to a dual manager fund under the existing management of Foresight
Venture Partners (`FVP') and Matrix Private Equity Partners LLP (`MPEP').

Nova's mandate was terminated in accordance with contractual arrangements on 31
August 2007 and the management of the Nova portfolio was transferred to FVP and
MPEP in equal amounts. The Board takes this opportunity to thank Nova for its
contribution in managing the portfolio over the past five years, after taking
on the mandate at a difficult time for the portfolio in 2002, and wishes Nova
every success in the future.

The Board is also considering the possibility of a further fund-raising to be
undertaken in the current tax year and intends to send a circular to
shareholders imminently giving full details of these developments.

Contact details for further enquiries:

Robert Brittain of Matrix-Securities Limited (the Company Secretary) on 020
7925 3300 or by e-mail on trivest@matrixgroup.co.uk.


END

Touchstar (LSE:TST)
Historical Stock Chart
From Jun 2024 to Jul 2024

Touchstar (LSE:TST)
Historical Stock Chart
From Jul 2023 to Jul 2024