BNS Baronsmead 4

16 November 2012

Baronsmead VCT 4 plc

Share Price Discount Policy

The Directors announce that, following a review of their existing share price discount policy, they have agreed that they will seek to narrow the share price discount to net asset value of the Company's shares by buying back shares through the market at an approximate 5 per cent. discount to the latest published net asset value. This constitutes a revision to the Company's existing policy of buying back shares through the market at an approximate 10 per cent. discount to the latest published net asset value.

This share price discount policy will be kept under continuous review based on the number of shares bought back over the next 12 months and may be subject to revision. Shares will be bought back depending on market conditions at the time and only where the Company has sufficient available funds and distributable reserves and the Directors believe that it will be in the best interests of shareholders as a whole.

For further information, please contact:

Michael Probin - VCT Investor Relations Director
ISIS EP LLP
Telephone: 020 7506 5796