REG-Framlington AIM VCT: Portfolio Manager

Framlington AIM VCT PLC

29 October 2009

After 30 years in investment management, and having managed the Company's
investments since 2004, Brian Watson has expressed his desire to retire from
AXA Framlington, and in so doing, as lead portfolio manager by 30 June 2010.
The Board wish to thank Brian for his efforts and contribution.

The Board are keen to ensure there is an orderly transition of Brian's
investment management responsibilities for the Company. Although Brian has been
the lead manager, the AXA Framlington philosophy has always been centred on a
focused and now expanding team approach to its £238.7 million investments in
AIM listed securities.

Brian Watson will remain the portfolio manager of the Company until his
retirement next year. He will assist with the transition of management
responsibilities working closely with his colleagues, including George Luckraft
and Chris St. John who have recently been appointed as Head of Investment
Trusts and Head of UK Smaller Companies at AXA Framlington respectively. The
investment style adopted by the Company will remain the same, in essence, with
the management team seeking to identify companies with significant growth
prospects.

By order of the Board

AXA Investment Managers UK Limited

Company Secretary to Framlington AIM VCT PLC

29 October 2009

END