Net Asset Value(s)

CHELVERTON GROWTH TRUST PLC

The Net Asset Value, based on bid prices, per Ordinary Share of 1p (including
current period revenue) at close of business on 30 November 2007 was 46.92p

Fair value of the overdraft is not materially different from the par value.

TOP 20 HOLDINGS

     Name of company                     % of portfolio
                                                       
 1   IDOX                                         10.15
                                                       
 2   A1 Claims                                     7.42
                                                       
 3   Food and Drink Group                          6.06
                                                       
 4   Smallbone                                     5.79
                                                       
 5   Belgravium Technologies                       5.27
                                                       
 6   BBI Holdings                                  4.63
                                                       
 7   CEPS                                          4.14
                                                       
 8   Northbridge Industrial Services               3.59
                                                       
 9   Tristel                                       3.44
                                                       
 10  Minorplanet Systems                           3.43
                                                       
 11  MTI Wireless Edge                             2.83
                                                       
 12  Datong                                        2.57
                                                       
 13  AT Communications                             2.55
                                                       
 14  EBTM Plc                                      2.39
                                                       
 15  Hartest Holdings                              2.38
                                                       
 16  Closed Loop London                            2.30
                                                       
 17  Forest Support                                2.10
                                                       
 18  Conder Environmental                          1.94
                                                       
 19  Satcom Group                                  1.92
                                                       
 20  Cliper Venture                                1.86
                                                       
     Balance held in 22 holdings                  23.24
                                                       
                                                 100.00