IBIS Media VCT 1 plc (the "Company")

Net Asset Value as at 31 January 2011

The Company's net asset value per share as at 31 January 2011 was 94.46p.  This represents an increase of 1.90p per share over the last published net asset value per share which was 92.56p as at 31 October 2010.

The directors of the Company confirm that the 31 January 2011 net asset value per share will be used in the calculation of both the price at which shares will be bought back by the Company under its Share Realisation and Reinvestment Programme ("SRRP") in tax year 2010/11 and the price at which new shares will be allotted under the SRRP and the Company's Public Offer for subscription in tax year 2010/11.

For further information please contact:

Robin Smeaton

The City Partnership (UK) Limited

Company Secretary                          

Telephone: (0131) 243 7210