ALBION DEVELOPMENT VCT PLC

Audit Report / Information • Jun 6, 2013

ALBION DEVELOPMENT VCT PLC

Registered in England and Wales Registered Number 03654040

1 King's Arms Yard, London, EC2R 7AF Telephone: 020 7601 1850, Fax: 020 7601 1875

This letter is being sent to shareholders of Albion Development VCT plc (the "Company") for information only and no action is required to be taken. If you have sold or transferred all of your shares in the Company please forward this letter to the purchaser, or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for onward transmission to the purchaser or transferee.

9 May 2013

Dear Shareholder

Change of auditor

I am writing to inform you that the Company's auditor, PKF (UK) LLP, has merged its business with BDO LLP. PKF (UK) LLP has consequently resigned as auditor and the Directors have appointed BDO LLP as auditor to fill the casual vacancy.

PKF (UK) LLP has deposited with the Company a statement of the circumstances connected with its resignation. A copy of this statement is shown below and is being sent to shareholders for information only as required by section 520(2) of the Companies Act 2006.

Yours faithfully

Geoffrey Vero Chairman

Perivan Financial Print 228595 (b)