UNICORN AIM VCT PLC

Regulatory Filings • Jun 6, 2012

6 June 2012

Dear Shareholder

I have pleasure in enclosing a copy of the Half-Yearly Report for Unicorn AIM VCT plc for the six months ended 31 March 2012.

Duplicate shareholder accounts

Many of our shareholders now have several accounts at the Company's Registrars, Capita Registrars. As a result of this, you may have been receiving more than one copy of communications from the Company such as the enclosed Half-Year Report. We apologise for any inconvenience this may have caused you. A new account is created each time you apply for new shares in the Company as Capita is unable to merge accounts without your consent unless the details you provide on a new application form are an exact match to those that they already hold on the Register.

We would like to offer you the opportunity to merge your accounts if you would like to do so. We believe that this will be more convenient for you and save the Company money. The accounts will be merged using your national insurance number as the common identifying field. Therefore, once you give us permission to merge your accounts, all accounts subsequently created that are linked to your national insurance number will be merged with your existing account. It will not be possible to unmerge the accounts. You can however view your account online at anytime using Capita's shareholder portal: www.capitashareportal.com which sets out the date of each investment you have made in the Company and the number of shares allotted.

If you would like us to proceed with the merging of your accounts, please complete and sign the attached declaration and return it in the enclosed pre-paid return envelope to Capita Registrars, 34 Beckenham Road, Beckenham, Kent BR3 4TU. In some cases we may already hold your national insurance number but have not entered this on the form as we are conscious that you may not wish us to do this for data security reasons. We would appreciate it if you would please provide us with your national insurance number whether or not you would like to merge your accounts at the current time so that we can be certain that each of your accounts belong to you and hold this information in the Register of Members. You will need to do this for each holding of shares, so please complete, sign and return this letter for each mailing you have received.

You can of course write to the Registrars or return this form at any time requesting your accounts to be merged.

Shareholder Information

Unicorn Asset Management provides shareholders with progress updates on a quarterly basis. These updates will be posted on Unicorn's website; www.unicornam.com, but please contact the Unicorn Asset Management team on info@unicornam.com should you wish to receive an electronic copy.

Yours faithfully

Peter Dicks

Unicorn AIM VCT plc Registered Office: One Vine Street London W1J 0AH Registered in England Number 4266437 Tel: +44 (0) 20 3206 7000 Fax: +44 (0) 20 3206 7006

Duplicate shareholder accounts

Please remember to complete this section on each of the forms you have been sent for each individual account you hold with Capita Registrars.

I hereby request Capita Registrars Limited to merge the accounts held in my name associated with my national insurance number.

I do not wish you to merge my accounts at the current and will notify the Company's Registrars if I should subsequently decide to do this.

My national insurance number is as follows:

Signed ........................................................................... Dated ...........................................................

Please return your completed forms in the envelope provided to:

FREEPOST RLYX-GZTU-KRRG Capita Registrars Shareholder Administration Support 34 Beckenham Road Beckenham Kent BR3 9ZA