RNS Number:3268T
Phoenix VCT PLC
16 December 2003


PHOENIX VCT PLC (the "Company")
16 DECEMBER 2003
ISSUE OF EQUITY

Phoenix VCT plc announces that the Company yesterday issued and allotted 18,640
new ordinary shares at a price of 107.3p. The issued share capital of the
Company is now 10,352,865 ordinary shares.

Application will be made for admission of the new ordinary shares to trading on
the London Stock Exchange as soon as practicable.

ENDS




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