Quester VCT 5 plc ("the Company")                       

The directors are pleased to announce that on 21 June 2004 the Company made an
allotment of 34,194 ordinary shares of 1p each in the Company under the terms
of the Company's dividend reinvestment scheme.

It is expected that dealings will commence on Friday 25 June 2003.

For further information please contact John Spooner or Richard Drover at
Quester on 020 7222 5472.

                                                                   22 June 2004

                                                     



END
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