Merger Discussions

Pennine AIM VCT 6 plc ("P6") Pennine AIM VCT 5 plc ("P5") The AIM Distribution Trust plc ("AIMDIT") JOINT ANNOUNCEMENT - MERGER DISCUSSIONS The Boards of P6, P5 and AIMDIT are pleased to announce that, following discussions, they have agreed, in principle, subject to shareholder approval, terms with each other with a view to merging P6, P5 and AIMDIT together to create one larger entity. Each of the companies is currently managed by Rathbone Investment Management Limited. If the merger proceeds it would be by way of "schemes of reconstruction" pursuant to S.110 of the Insolvency Act 1986 (the "Schemes"). Under the proposed Schemes, the assets and liabilities of each of P5 and AIMDIT will be transferred to P6 using a relative net asset basis to create one larger VCT. This should produce a significant reduction in running costs as well as other benefits. A merger effected on this basis would be outside the City Code on Takeovers and Mergers The proposed transactions will require approval of shareholders of P6, P5 and AIMDIT. Formal documents are currently being prepared and are expected to be sent out to all shareholders in due course. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.