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Octopus Eclipse VCT 4 plc (OEC4)

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Thursday 04 November, 2010

Octopus Eclipse VCT 4 plc

Interim Management Statement






Octopus Eclipse VCT 4 PLC
Interim Management Statement

4 November 2010

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Eclipse VCT 4 plc ('Eclipse 4' or 'Fund') presents
an Interim Management Statement for the period 1 August 2010 to 30 September
2010.  The statement also includes relevant financial information between the
end of the period and the date of this statement.

Financial Summary

+-----------------------------+-------------------------+----------------------+
|                             | 2 months to 30 September|    Year ended 31 July|
|                             |                     2010|                  2010|
+-----------------------------+-------------------------+----------------------+
|                             |                         |                      |
+-----------------------------+-------------------------+----------------------+
|Net assets (£'000s)          |                   19,153|                19,265|
+-----------------------------+-------------------------+----------------------+
|Net profit/(loss) after tax  |                         |                      |
|(£'000s)                     |                     (84)|                 2,112|
+-----------------------------+-------------------------+----------------------+
|Net asset value per share    |                         |                      |
|("NAV")                      |                    69.0p|                 69.4p|
+-----------------------------+-------------------------+----------------------+
|Cumulative dividends paid    |                         |                      |
|since launch                 |                     8.7p|                  8.7p|
+-----------------------------+-------------------------+----------------------+
|NAV plus cumulative dividends|                         |                      |
|paid                         |                    77.7p|                 78.1p|
+-----------------------------+-------------------------+----------------------+

Investment performance
At 30 September 2010 the NAV plus cumulative dividends of the Fund was 77.7p,
which compares to 78.1p at 31 July 2010, showing a slight decrease due to
standard running costs of the Fund.

In the unquoted portfolio, we have continued to focus on monitoring existing
portfolio companies, alongside giving them support with advice and funding.
During the period under review, further small investments have been made in
Lilestone and Perfect Pizza. A repayment of £900,000 has been made to the Fund
of the loan note originally invested in Vulcan Services 1 Limited.

In the AIM portfolio, opportunities to invest have been limited during the
period and therefore no new investments were made. However, the Fund disposed of
its holding in Pressure Technologies in August 2010, realising a small gain of
£3,600 in the period.

The total value of the investment portfolio at 30 September 2010 was £19.1
million. By value, 77.0% of the Company's net assets are in unquoted
investments, 3.8% in AIM-quoted investments and 19.2% of the Company's net
assets are currently in cash or cash equivalents.


Top Ten Qualifying Investment Portfolio by Value as at 30 September 2010
Company                Investment class              Carrying value % Net Assets
                                                              £'000
--------------------------------------------------------------------------------
                       Technology &
CSL DualCom Limited    Telecommunications                     3,174        16.6%

Promotion Space
Limited                Media & Marketing Services             2,348        12.3%

The History Press
Limited                Publishing                             2,246        11.7%

Hydrobolt Limited      Engineering & Machinery                1,628         8.5%

Sweet Cred Holdings
Limited                Consumer Products                      1,277         6.7%

Tristar Worldwide
Limited                Transport Services                     1,000         5.2%

BDA International
Limited                Media & Marketing Services               924         4.8%

Audio Visual Machines  Technology &
Limited                Telecommunications                       883         4.6%

T4 Holdings Limited    Media & Marketing Services               559         2.9%

Perfect Pizza Limited  Leisure & Hotels                         298         1.6%


Dividends
In the annual report to 31 July 2010, the Board proposed a dividend of 1.50p per
share in respect of the year then ended.  If approved by shareholders at the
Annual General Meeting, this dividend will be paid on 10 January 2011 to those
shareholders who are on the register on 10 December 2010.

Annual General meeting
The Annual General Meeting of Octopus Eclipse VCT 4 plc will be held at 20 Old
Bailey, London EC4M  7AN on Wednesday, 8 December 2010 at 2.30 p.m.

Material events and transactions
The Fund's Board is not aware of any other significant event or transaction
which has occurred between 1 October 2010 and the date of publication of this
statement which would have a material impact on the financial position of the
Fund.

For further information please contact:
Chris Allner- Fund Manager
Octopus Investments Limited - 0800 316 2349

ENDS


[HUG#1459103]








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Source: Octopus Eclipse VCT 4 plc via Thomson Reuters ONE