IBIS Media VCT 1 plc

31 March 2011

Share Realisation and Reinvestment Programme

The Board of IBIS Media VCT 1 plc is pleased to announce that the closing time and date for the Share Realisation and Reinvestment Programme ("SRRP") shall be extended, in accordance with the terms of the SRRP, to noon on 5 April 2011 in respect of tax year 2010/11 (from the previous time and date of 3.00pm on 31 March 2011) and to 5.00pm on 30 June 2011 in respect of tax year 2011/12.

Please note that the deadline for informing The City Partnership (UK) Limited of any sale or transfer of shares, whereby the number of shares recorded on the SRRP application form previously sent to you has changed, is now noon on 4 April 2011 (from the previous time and date of 3.00pm on 30 March 2011) so that, if you wish to participate in the SRRP, an appropriately amended application form may be completed before the extended closing date.

 A copy of the Prospectus can be obtained by contacting IBIS Capital Limited on 0207 070 7080 or by email at info@ibismediavct.com and also from the offices of IBIS Capital Limited at 22 Soho Square, London, W1D 2NL.

Beaumont Cornish Limited is acting as Sponsor to the Share Realisation and Reinvestment Programme.

The Prospectus is available for viewing online at the following web-site address:

http://www.hemscott.com/nsm.do

For further information please contact:

Robin Smeaton

The City Partnership (UK) Limited

Company Secretary                          

Telephone: (0131) 243 7210