Offer for Subscription Update

Unicorn AIM VCT plc (the "Company")

Offer for Subscription - Update

The Company published a prospectus on 17 September 2014 ("the Prospectus") and a Supplementary Prospectus on 16 December 2014, containing an offer for subscription of up to £15 million with an over-allotment facility for a further £10 million through the subscription of up to a maximum of 22.5 million ordinary shares of 1p each ("the Offer"). Full details of the Offer are contained in the Prospectus and Supplementary Prospectus. On 3 March 2015, the Company announced that it had agreed to authorise use of an initial £5 million of the £10 million over-allotment facility.

The Directors of the Company are pleased to announce that on the basis of subscription forms received as at the close of business on 26 March 2015, assuming that they are all accepted, the Company has received applications totalling in excess of £19 million. Therefore, the initial £15 million Offer and an initial £5 million over-allotment are close to full subscription.

In order to accommodate further unsatisfied demand, and in accordance with the Prospectus, the Board has decided, after consultation with Unicorn Asset Management (UAM), the Company's Investment Manager, to authorise the use of the full over-allotment facility and increase the Offer by a further, and final, £5 million. The offer will therefore remain open until 30 June 2015 unless the over-allotment facility is fully subscribed before this date or otherwise at the Board's discretion.

For further information please contact:

Chris Hutchinson at Unicorn Asset Management Limited (the Company's Investment Manager) on

020 7253 0889

Jon Carslake at ISCA Administration Services Limited (the Company Secretary) on

01392 487056 or [email protected]

27 March 2015