IBIS Media VCT 1 plc (the "Company")

Share Realisation and Reinvestment Programme & Offer for Subscription

The board of directors of the Company is pleased to announce that on 26 August 2011, in accordance with the terms of the SRRP, as set out in the Prospectus:

·      A total of 943,161 ordinary shares were purchased for cancellation at a price of 92.96p per ordinary share

·      A total of 914,855 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

Following the cancellation and allotments described above, the issued share capital of the Company is 9,554,339 ordinary shares.

Application is now being made for the admission of the 914,855 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.

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