OTVCT sells holding in Valid

RNS Number:0806N
Oxford Technology Vent Cap Tst PLC
02 July 2003




                             For Immediate Release

                                  2 July 2003

 Oxford Technology VCT plc sells its holding in Valid Information Systems Ltd.



The Directors of Oxford Technology VCT are pleased to announce that Valid
Information Systems, an investee company of the fund has been sold to
Hummingbird, a Canadian company which is quoted on NASDAQ.

For its holding, Oxford Technology VCT receives an immediate payment of
approximately #1.4m with up to a further #1.0m to be paid in two tranches in 12
months and 24 months time, depending on the performance of the company.

Oxford Technology VCT had invested a total of #270,000 in Valid for a mixture of
ordinary and preference shares, although following an earlier redemption of some
preference shares, Oxford Technology VCT's net investment in Valid was #202,500.
In the most recent accounts, to 28 Feb 2003, Oxford Technology VCT's holding in
Valid was valued at #733,000. If Oxford Technology VCT receives the full #2.4m,
this represents an increase in Net Asset Value of about 34p per Share over the
audited figure of 115p given in the most recent accounts.

For further information, please contact Oxford Technology VCT on 01865 784466.


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