RNS Number:9062T
Phoenix VCT PLC
06 January 2004


PHOENIX VCT PLC (the "Company")

6 JANUARY 2004

NET ASSET VALUE AND ISSUE OF EQUITY

Phoenix VCT plc announces that as at 31 December the unaudited net asset value
per ordinary share was 103.3p.

In addition the Company announces that it yesterday issued and allotted 126,873
new ordinary shares of 10p each at a price of 108.3p. The issued share capital
of the Company is now 10,479,738 ordinary shares.

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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