Quester VCT 5 plc ("the Company")                       

The directors are pleased to announce that the Company has made a further
allotment of 205,933 ordinary shares of 1p each in the Company at a price of
97.371p per share under the 2003/04 offer for subscription announced on 14
November 2003.

It is expected that dealings will commence on Wednesday 17 March 2004.

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

16 March 2004

               Announc 16 3 04



END
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