RNS Number:6001R
Victory Corporation PLC
03 November 2003


              Victory Corporation Plc ("Victory" or "the Company")

                               Capital Reduction

Further to the EGM of the Company on 30 September 2003, at which shareholder
approval was granted for a capital reduction to be undertaken by Victory, the
Company today announces that the Court has granted approval for the capital
reduction. Accordingly, Victory will now be better placed to pay dividends or
make other distributions in the future.

                      This information is provided by RNS
            The company news service from the London Stock Exchange
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