CYS Chrysalis Vct Plc

RNS Number:7071G
Chrysalis VCT PLC
22 December 2004

CHRYSALIS VCT PLC ("Chrysalis")
CHRYSALIS A VCT PLC ("Chrysalis A")
CHRYSALIS B VCT PLC ("Chrysalis B")
CHRYSALIS C VCT PLC ("Chrysalis C")
(together the "Chrysalis Companies")

POSSIBLE MERGER
22 December 2004

The boards of the Chrysalis Companies (the "Boards") announce that, following
the change in VCT tax regulations earlier this year which permitted VCT mergers,
they are in discussions regarding the possible merger of the Chrysalis Companies
which would be effected by offers to be made by one Chrysalis Company for the
other three.

The Boards believe that a merger would achieve a number of benefits for the
enlarged group including significant cost savings, enhanced operational
efficiency and an increase in the range, diversity and liquidity of the
investment portfolio.  The Boards have been advised that, while possible merger
talks are continuing, the Chrysalis Companies are effectively prevented from
undertaking share buy-backs.
At this time, no firm intention to make an offer has been notified to any of the
Boards that would require announcement pursuant to Rule 2.5 of the City Code on
Takeovers and Mergers and these discussions may or may not lead to any offers
being made.  A further announcement will be made when appropriate.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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