Issue of Equity

RNS Number:1377O
Downing Protected VCT II PLC
28 June 2005

Downing Protected VCT II plc
28 June 2005

Offers for subscription of ordinary shares ("the Offers")

The Directors of Downing Protected VCT II  plc are pleased to announce
allotments between 31 May 2005 and 27 June 2005 of 869,375 ordinary shares of 1p
each ("the  Shares"),  payable at 100p per share, pursuant to the Offers
announced on 26 January 2005.

Dealings in  the Shares are expected to commence on 29 June 2005 and definitive
documents of title are expected to be dispatched within 30 days of allotment.

The Offers closed on 27 June 2005.

The Company announces that the total number of shares issued under the Offers
was 10,167,192, with a total subscription price of #10,167,192.


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END

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