BSR BR.Smlr Tec Vct

RNS Number:6220X
British Smaller Tech Cos VCT PLC
22 January 2001


                     BRITISH SMALLER TECHNOLOGY COMPANIES VCT plc

                         Quarterly Investment Portfolio Update
                            as at January 9, 2001

                          #5.96m invested in 19 companies

British Smaller Technology Companies VCT plc ("the Technology VCT"), the #13m
venture capital trust specialising in funding fast-growing innovative
businesses across a range of sectors - such as software, electronics,
telecommunications, engineering and life sciences - has maintained its
investment rate.

The Technology VCT has made 23 investments totalling #5.96 million in 19
companies and is on course to meet its target for qualifying investments
(details attached).

The Managing Director of the Company's investment advisers, Yorkshire Fund
Managers Ltd, Phil Cammerman, said: "We should be fully invested by the end of
the second quarter of the year, which is bang on target.

"All our investments are in core technologies and have been vetted by
Scientific Generics Ltd, our Cambridge-based technology advisers.   We have
invested in core technologies and there are no dot coms in our portfolio."

Mr Cammerman added that the portfolio had achieved an unrealised annualised
compound rate of return of 29% on its venture capital portfolio since April 1
1999, and three of the investments were already showing significantly
increased valuations.

To meet the increased demand from potential investee companies, which is
currently running at about 1,500 inquiries a year, Yorkshire Fund Managers is
raising up to #30m for a second technology VCT, the British Smaller Technology
Companies VCT2.

Prospectuses may be obtained by calling 0800 854057.

For further information, please contact:
Phil Cammerman            Yorkshire Fund Managers Ltd      Tel: 0113 294 5050
David Hardy/Simon Ellis   Binns & Co. PR Ltd               Tel: 020 7786 9600
Simon Mountford           Simon Mountford Communications   Tel: 01347 844844


NOTES TO EDITORS

The current make-up of the portfolio is shown below:


Date of    Name of           Location    Industry         Investment   Value of
investment Company                       Sector              At Cost Investment


Aug 1999)
July 2000) Power X Ltd       Stockport   Electronics        #400,000   #746,642
Nov 1999   Primal Pictures   London      Healthcare         #750,000   #750,000
           Ltd
Nov 1999)  Voxar Ltd         Edinburgh   Healthcare         #700,000   #847,388
Sept 2000)
Dec 1999   Optos Plc         Fife,       Healthcare         #161,750   #161,750

                             Dunfermline
Feb 2000)  Sigtronics Ltd    East        Electronics        #270,000   #667,000
                             Lothian
Nov 2000)
March 2000 Sarian Systems    Ilkley,     Telecoms           #200,000   #200,000
           Ltd
                             West Yorks
March 2000 Digital           Cambridge   Healthcare         #250,000   #250,000
           Healthcare Ltd
March 2000 Millware Ltd      Tewkesbury  Software           #225,000   #225,000
Jan 2001
March 2000 Focus Solutions   Warwick     Software            #74,100    #72,770
           Group Plc*
May 2000   Optical Micro     Swindon     Electronics        #250,050   #250,050
           Devices Ltd
May 2000   Comvurgent Ltd    Nottingham  Software           #250,000   #250,000
July 2000  Amino             Cambridge   Electronics        #311,993   #311,993
           Communications
           Ltd
Aug 2000   Solcom Ltd        Ryde        Software           #375,000   #375,000
Aug 2000   Tissuemed Ltd     Leeds       Healthcare         #300,000   #300,000
Nov 2000   Elam-T Ltd        London      Electronics        #290,000   #290,000
Nov 2000   Jetmask Ltd       Cambridge   Electronics        #250,000   #250,000
Dec 2000   Immunobiology Ltd Cambridge   Healthcare         #150,000   #150,000
Dec 2000   Imerge Ltd **     Cambridge   Broadband          #500,000   #500,000
                                         Communication
Jan 2001   Vibration         Stirling    Oil exploration    #250,000   #250,000
           Technology
           TOTAL                                          #5,957,893 #6,847,593



* Focus Solutions Group Plc is quoted on AIM

** In escrow

The Technology VCT will be issuing regular quarterly updates to the above
table.

British Smaller Technology Companies VCT plc

British Smaller Technology Companies VCT raised more than #12.5m in May 1999
to invest in a portfolio of growth-oriented UK-based technology companies
across a range of industrial sectors, including information technology,
engineering and life sciences.  A further #1.11m was raised from an issue of
1,058,800 new shares in March 2000.   Although the majority of funds will be
invested in high-growth established companies, up to 20 per cent of funds will
be invested in companies in the early-stage or start-up phase.   Information
on the Technology VCT can be found on www.yorkshire-enterprise.co.uk.

Yorkshire Fund Managers Limited

Yorkshire Fund Managers Limited is the fund management arm of the Yorkshire
Enterprise Group and is regulated by IMRO.  YFM is a specialist venture
capital fund management company and, as investment adviser to both British
Smaller Companies VCT and British Smaller Technology Companies VCT, is
experienced in managing VCTs.

The Generics Group AG

Generics, which is based in Cambridge, is an integrated technology consulting,
development and investment group, with an international reputation for
successfully exploiting  emerging science and technology for commercial
markets.   It provides additional specialist technology advice to Yorkshire
Fund Managers, including support and assistance in monitoring investments.
Information on Generics can be found on www.generics.co.uk.

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