CYS Chrysalis Vct Plc

    Directorate change
             



Chrysalis VCT plc
20 October 2008
Directorate Changes

Chrysalis VCT plc announces that,  Robert Drummond, who stepped  down
as chairman of the Company last month, will retire from the Board  on
30th November 2008.

Robert became  chairman of  the  Company in  April 2003  following  a
period of  poor performance  and oversaw  some major  changes to  the
structure  and  management.    In  April  2004  the  Company   became
self-managed and, in January 2005, completed the first VCT merger  by
merging with three smaller  funds.  Since becoming self-managed,  the
Company has made a number of successful realisations and has been one
of the best performing VCTs.

Robert said "I am pleased to have  played my part in the recovery  of
this VCT over the years and am delighted to have passed over my  role
to Peter Harkness who,  I believe, will  be a safe  pair of hands  in
these difficult conditions"

The other Directors would  like to thank  Robert for his  substantial
contribution during his  time as chairman  and wish him  well in  his
future ventures.

As previously  announced,  Peter  Harkness  took  over  the  role  of
Chairman on  an  interim basis.   Peter  has now  been  appointed  as
Chairman on a permanent basis.

The Company also announces that Dr Martin Knight is to join the Board
of Directors as a  non-executive director. Martin  (59) is the  Chief
Operating Officer of Imperial College  and also chairman of  Imperial
Innovations Group  plc, the  AIM-quoted technology  transfer  company
that is  majority owned  by Imperial  College and  has more  than  75
investee companies in  its portfolio.  Martin began  his career  with
Morgan Grenfell  & Co  Ltd., becoming  a Director  in 1982.   He  has
advised and acted for a number of major public and private  companies
on project and  corporate finance transactions  and on financial  and
investment strategies.  He  was appointed as  a Governor of  Imperial
College in 1992,  becoming Chairman  of the  Finance and  Investments
Committee in 2001.  He became Chief Finance Officer in 2004.

Peter  Harkness,  Chairman  of  Chrysalis  VCT,  commented:  "We  are
delighted that  Martin will  be joining  us on  the Board.  He has  a
strong track record  in the  investment sector  and brings  extensive
relevant experience to the Board."

Other than  as  disclosed above,  there  are no  further  disclosures
required  under   Listing  Rule   9.6.13  in   respect  of   Martin's
appointment.

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