Downing Structured Opportunities VCT 1 plc
29 January 2010
Issue of Equity

The  Directors  of  Downing  Structured  Opportunities  VCT 1 plc are pleased to
announce  an allotment on 28 January 2010 of 3,341,620 B shares of 0.1p each ("B
Shares")  payable at  99.9p per share  and 13,341,620 C  shares of 0.1p each ("C
Shares")  payable at 0.1p per share pursuant to the Offers for Subscription that
opened on 15 October 2009.

Application for the B Shares and C Shares to be admitted to the Official List of
the  UK Listing Authority and  to trading on the  London Stock Exchange's market
for listed securities will be made at the earliest practical opportunity.

B  Shares issued to Directors included within the above allotment, is summarised
as follows:

                                Number of B       % of B
                               Shares issued    Shares at   % of B Shares
                               on 28 January      today's   assuming full
                                        2010         date    subscription

  Howard Flight    Director           62,550        1.38%           0.31%

  Russell Catley   Director           21,000        0.46%           0.11%

  Total                               83,550        1.84%           0.42%


C Shares issued to Directors and members of Management included within the above
allotment, is summarised as follows:

                                  Number of C     % of C
                                Shares issued  Shares at % of C Shares
                                on 28 January    today's assuming full
                                         2010       date  subscription

 Howard Flight      Director           62,550      0.43%         0.21%

 Russell Catley     Director          521,000      3.58%         1.75%

 Robin Chamberlayne Director          500,000      3.44%         1.67%

 Colin Corbally     Management      1,170,000      8.05%         3.90%

 Nicholas Lewis*    Management      2,700,000     18.57%         9.00%

 Tony McGing        Management        900,000      6.19%         3.00%

 Grant Whitehouse   Management      1,350,000      9.28%         4.50%

 Total                              7,203,550     49.53%        24.01%

* Includes shares allotted to a connected person

The  Offers for Subscription  are expected to  remain open until 5 April 2010 in
respect of the 2009/2010 tax year and 30 April 2010 in respect of the 2010/2011
tax year unless previously extended or fully subscribed earlier.



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