VES Vestpa

RNS No 6762x
CAPITAL OPPORTUNITIES TRUST PLC
20th November 1997

                                 
                RESULT OF SCHEME OF RECONSTRUCTION
                                 
                         RESULT OF PLACING

Under the scheme of reconstruction of Voyageur European Smaller
Companies Trust PLC, details of which were set out in the
prospectus dated 17 October 1997 (the "Prospectus"), holders of
6,118,505 Ordinary Shares of Voyageur representing 60.8 per cent of
the Voyageur Ordinary Shares in issue elected, or were deemed to
have elected, to receive shares in Capital Opportunities Trust PLC
and holders of 3,950,495 Ordinary Shares of Voyageur representing
39.2 per cent of the Voyageur Ordinary Shares in issue elected to
receive shares in RealisationCo.  A total of 6,118,505 Ordinary
Shares in Capital Opportunities Trust PLC have, therefore, been
issued to those Voyageur shareholders who so elected.

A total of 14,559,000 C Shares were placed under the Placing of
Capital Opportunities C Shares.  As stated in the Prospectus,
Equitable Life Assurance Society agreed to subscribe in the
placing 24,424,000 C Shares at a subscription price of #1 per C
Share.  However, it was explained that this commitment may require
to be scaled down to ensure that the Capital Opportunities Shares
are sufficiently widely held to meet the listing requirements of
the London Stock Exchange.  As the placing was not fully subscribed
it has been necessary to scale back Equitable Life's subscription
to 12,000,000 C Shares.

The initial unaudited net asset value per Ordinary Share is 125.0p
and per C Share is 97.2p.

Dealings in the C Shares and Ordinary Shares are expected to
commence at 8.30 a.m. today.



Enquiries
---------

SBC Warburg Dillon Read
Jake Elmhirst                           Tel: 0171 568 2542

J O Hambro & Partners Limited
Jamie Hambro                            Tel: 0171 222 2020

END





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