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 31 March 2009 was 16.33p.

Bank overdraft as at 31 March 2009 was £399,207.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              17.31
                                                              
     2 Closed Loop Recycling                             12.61
                                                              
     3 A1 Claims                                         10.88
                                                              
     4 Tristel                                            6.21
                                                              
     5 Northbridge Industrial Services                    4.94
                                                              
     6 Newmark Security                                   4.06
                                                              
     7 Forest Support Services                            3.78
                                                              
     8 CEPS                                               3.54
                                                              
     9 Parmenion Capital Partners                         3.53
                                                              
    10 AT Communications                                  3.10
                                                              
    11 Belgravium Technologies                            3.09
                                                              
    12 LPA Group                                          2.75
                                                              
    13 Petards Group                                      2.65
                                                              
    14 Alliance Pharma                                    2.47
                                                              
    15 Satcom Group                                       2.21
                                                              
    16 MTI Wireless Edge                                  1.98
                                                              
    17 Hartest Holdings                                   1.80
                                                              
    18 Locker Holdings                                    1.80
                                                              
    19 Minorplanet Systems                                1.77
                                                              
    20 Pennant International Group                        1.38
                                                              
Balance held in 16 holdings                               8.14
                                                              
                                                        100.00