Ventus 2 VCT plc and Ventus 3 VCT plc

Following the successful launch of Ventus VCT plc in 2005, Climate Change Capital has announced the successful closing of the fund raising for Ventus 2 VCT plc and Ventus 3 VCT plc ("Ventus 2 & 3").

The Ventus 2 & 3 offer, which launched in January 2006, closed on 31 May with £22.3 million of subscriptions. This means that the Ventus funds now have in aggregate over £37 million of capital, making them the single largest group of funds specifically targeted at the UK renewable energy sector.

Ventus 2 & 3 are venture capital trusts ("VCTs") investing in companies that develop, construct and operate UK renewable energy projects. As with the first Ventus fund, the majority of investments will be in companies constructing and operating small to medium sized onshore wind farms, however the new funds also have the scope to invest in companies using other renewable energy technologies such as biomass, hydro and landfill gas.

The Investment Manager for all three Ventus funds is Climate Change Capital Limited ("CCC"), the specialist merchant banking group which focuses on the provision of financial products and services to companies and financial institutions engaged in the development of the low-carbon economy.

Mark Woodall, Chief Executive Officer of CCC, said:

"We are delighted at the success of the fund raising for Ventus 2 & 3, which shows clearly that investors are becoming increasingly aware of climate change issues and the opportunity to earn attractive dividend returns in an environmentally-friendly investment. The Ventus 2 & 3 proposition is designed specifically to meet the need for finance in the key small to medium sized renewable energy generation sector. The continued growth of this market will be vital to the UK government delivering on its climate change objectives."

The funds are specifically targeted at independent developers, with a main focus on small to medium scale developments. The funds also have the flexibility to invest in larger projects and are able to invest in companies whose projects are already operational.

Charles Conner of CCC, the lead investment manager of the Ventus funds, said:

"This latest fund raising allows us to capitalise on the presence in the market that we have built with the first Ventus fund. Whilst the majority of the investments we will make will be in companies developing and operating onshore wind farms, our strategy is not just about generating power from the wind. Ventus 2 & 3 are able to invest in companies that use other renewable energy technologies such as biomass, hydro and landfill gas, and we are also keen to invest in companies whose assets are already operational. Our proposition is also not just about providing finance. We focus on adding value to independent developers by helping to structure the whole transaction, by working with a select panel of banks and professional advisers and through our detailed understanding of the key contracts required to deliver these projects."

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Enquiries:

For further information relating to the Ventus funds and Climate Change Capital or to discuss potential investment opportunities please contact:

Climate Change Capital
Charles Conner cconner@c-c-capital.com
Steve Read sread@c-c-capital.com

Notes to Editors:

Ventus 2 VCT plc and Ventus 3 VCT plc ("Ventus 2 & 3")

Ventus 2 & 3 are specialist venture capital trusts ("VCTs") established to invest in a portfolio of companies that will develop, construct and operate small to medium sized on-shore UK renewable energy projects. Ventus 2 & 3 are structured as twin VCTs which will invest identically in all opportunities and subscriptions for shares have been split equally between the two companies. The offer for subscription opened on 16 January 2006 and closed on 31 May 2006 with total aggregate subscriptions of £22.3 million. The shares in the companies are listed on the London Stock Exchange.

Ventus VCT plc ("Ventus")

Ventus is a £15 million VCT which was listed on the London Stock Exchange in March 2005 and which has investment objectives similar to Ventus 2 & 3. In the first financial year of the fund the company has agreed terms and either made investments or entered into exclusivity arrangements with four investee companies developing renewable energy projects, with aggregate anticipated investments in excess of £4.9 million.

Climate Change Capital ("CCC")

CCC is the Investment Manager of Ventus, Ventus 2 and Ventus 3. The investment management team consists of individuals with experience in investment management as well as experience in developing and investing in wind energy projects in the UK.
CCC is a wholly-owned subsidiary of Climate Change Capital Holdings Limited, a specialist merchant banking group focused on the provision of financial products and services to companies and financial institutions affected by policy and capital market responses to climate change (www.climatechangecapital.com)

Investment Management Team

The investment management team consists of the following individuals:

Charles Conner - Director of Climate Change Capital, lead investment manager for the Ventus funds and a member of the Investment Committee. Charles has 13 years' experience as an investment banker, including five years with Salomon Brothers and three years with Dumas West & Co in London as Managing Director. He has substantial experience in the financing of various sectors of the energy industry, including exploration and development, pipelines, oilfield equipment, distributed generation and renewable energy.

Steve Read - Investment Manager. Steve joined Climate Change Capital in November 2005 and is responsible for the structuring and management of investments made by the Company. He has over 14 years' experience in the banking arena and prior to joining Climate Change Capital was a Director with Barclays' Structured Project Finance Team. In this role Steve arranged and managed the financing of over 500 megawatts of renewable energy projects across a range of generating technologies and legal jurisdictions.

Steve Macken - Technical Investment Manager. Steve has 11 years' experience in managing and developing wind energy projects, including eight years with National Wind Power (now npower Renewables) and three years with Scottish Power.

Karen Cousins - Investment Analyst. Karen joined Climate Change Capital in January 2006 and has recently joined the investment team. She has experience in corporate finance, UK energy policy and climate change economics and holds a Master of Science degree from Oxford University.

Mark Woodall - Chief Executive Officer of Climate Change Capital and a member of the Investment Committee. Mark has 20 years' business experience working with technology, energy and environmental companies and was formerly the Executive Director and founder of Impax Capital Corporation, a specialist investment banking firm focused on environmental utilities. He has been directly involved in the financing of over £250 million of renewable energy transactions.

Paul Thomas - Chairman of the Investment Committee. Paul is the Managing Director and Chief Investment Officer of Pi Capital Limited, the London based independent venture capital firm. He has over 20 years' of private equity experience, including 19 years with ECI Partners LLP, the London based mid-market buy-out house, where he was Managing Director until retiring in 2003.

This release has been approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by Climate Change Capital Limited, which is authorised and regulated by the Financial Services Authority. 49 Grosvenor Street London W1K 3HP.

About Climate Change Capital Ltd.

Climate Change Capital Ltd. (“CCC”) www.climatechangecapital.com is an investment manager and advisor specialising in the opportunities created by the transition to the low carbon economy. Its activities aim to make the world’s environment cleaner while delivering attractive financial returns.

Fund Management: Develops and manages funds that invest in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation. CCC has over US$1.6 billion under management across the following alternative asset classes: Infrastructure and Carbon, Private Equity, Listed Equities, Real Estate, Land and Water.

Advisory: Provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.

Through the combined talents of investment professionals, market specialists, and thought leaders we reconcile economic gain with environmental benefits without compromising implementation, discipline, client focus and accountability.We call this Creating Wealth Worth Having^®.

Climate Change Capital Limited is authorised and regulated by the Financial Services Authority.