IBIS Media VCT 1 plc (the "Company")

Offer for Subscription

The board of directors of the Company is pleased to announce that on 14 April 2011, in accordance with the terms of the Public Offer, as set out in the Prospectus, a total of 229,431 ordinary shares were allotted at a price of 99.44p per ordinary share.

Following the allotment described above, the issued share capital of the Company is 9,826,777 ordinary shares.

Application is now being made for the admission of the 229,431 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.

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