Downing Structured Opportunities VCT 1 plc (now renamed Downing FOUR VCT plc)
Downing Planned Exit VCT 2011 plc
Downing Planned Exit VCT 6 plc
Downing Planned Exit VCT 7 plc (together "the Companies")

Merger Update - Joint Announcement
21 July 2015

This announcement is made by the Companies in connection with merger of Downing Structured Opportunities VCT 1 plc ("DSO") with Downing Planned Exit VCT 2011 plc ("DP2011"), Downing Planned Exit VCT 6 plc ("DP7") and Downing Planned Exit VCT 7 plc ("DP7") by way of schemes of reconstruction under section 110 of the Insolvency Act 1986 ("the Schemes"), details of which were contained in a prospectus and in circulars to the shareholders of the Companies, each dated 15 June 2015.

The boards of directors of DSO, DP2011, DP6 and DP7 are pleased to advise that the resolutions proposed at the general meetings of DP2011, DP6 and DP7 held on 20 July 2015 were duly passed.

Immediately following the general meetings, as set out in the Prospectus, Sir Aubrey Brocklebank and Russell Catley were appointed as non-executive directors of DSO.

In implementing the Schemes, the assets and liabilities of DP2011, DP6 and DP7 have been transferred to DSO, in consideration for the issue of the Consideration Shares.

The issue of the Consideration Shares is summarised as follows:

Application will shortly be made for all the Consideration Shares issued to be admitted to the Official List and to trading on the main market of the London Stock Exchange. The date on which admission is expected to become effective and that trading will commence will be announced shortly.

DSO has now changed its named to "Downing FOUR VCT plc". The name change will be effective at 8am on Wednesday 22 July 2015.

For further enquiries please contact:

Grant Whitehouse
Company Secretary
Downing LLP
Tel: 020 7416 7780