IBIS Media VCT 1 plc (the "Company")

Share Realisation and Reinvestment Programme & Offer for Subscription

On 26 January 2011, the Company published a Prospectus in respect of (i) a share realisation and reinvestment programme for existing shareholders only ("SRRP") by way of an open offer (non-renounceable) to subscribe up to 8,913,146 new ordinary shares and a tender offer to buy back up to 8,913,146 existing ordinary shares in the Company and (ii) an offer to existing shareholders and members of the public to raise up to £5 million (which may be increased at the Directors' discretion to £10 million) through the issue of new ordinary shares ("Public Offer").

The board of directors of the Company is pleased to announce that on 5 April 2011, in accordance with the terms of the SRRP, as set out in the Prospectus:

·      A total of 3,608,233 ordinary shares were purchased for cancellation at a price of 94.46p per ordinary share

·      A total of 3,499,943 ordinary shares of 1p each in the Company were allotted in respect of the shares tendered for cancellation on the basis of 97 ordinary shares allotted for every 100 ordinary shares purchased for cancellation

·      A total of 129,091 ordinary shares of 1p each in the Company were allotted at a price of 97.39p per ordinary share

The board of directors of the Company is also pleased to announce that on 5 April 2011, in accordance with the terms of the Public Offer, as set out in the Prospectus, a total of 663,399 ordinary shares were allotted at a price of 99.44p per ordinary share.

Following the cancellation and allotments described above, the issued share capital of the Company is 9,597,346 ordinary shares.

Application is now being made for the admission of the 4,292,433 ordinary shares to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities, which is expected to take place at the earliest practical opportunity.

Applications in respect of the 2011/12 tax year may continue to be made until 5.00 p.m. on 30 June 2011 unless previously brought forward or extended by the Directors.  As at 5 April 2011, 230,686 shares had been tendered for buyback and applications totalling £121,000 had been received under the Public Offer in respect of the 2011/12 tax year.

If no account is taken of the reinvested sum under the SRRP (£3,408,336), then the monies raised under the SRRP and the Public Offer as at 5 April 2011 was £893,296. 

A copy of the Prospectus can be obtained by contacting IBIS Capital Limited on 0207 070 7080 or by email at info@ibismediavct.com.

For further information please contact:

IBIS Capital Limited, Investment Adviser: 020 7070 7080

Robin Smeaton, The City Partnership (UK) Limited, Company Secretary: 0131 243 7210