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 28 February 2007 was 43.36p.
The Treasury Net Asset Value, per Ordinary Share of 1p (including current
period revenue) at close of business on 28 February 2007 was 43.14p

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

TOP 20 HOLDINGS

     Name of company                     % of portfolio
                                                       
 1   Oasis Healthcare                              9.30
                                                       
 2   A1 Claims                                     6.48
                                                       
 3   Belgravium Technologies                       5.78
                                                       
 4   CEPS                                          3.95
                                                       
 5   Smallbone                                     3.90
                                                       
 6   Food and Drink Group                          3.85
                                                       
 7   BBI Holdings                                  3.80
                                                       
 8   IDOX                                          3.70
                                                       
 9   Stanley Gibbons Group                         3.46
                                                       
 10  Petards Group                                 3.30
                                                       
 11  Titan Europe                                  2.75
                                                       
 12  Conder Environment                            2.61
                                                       
 13  Mavinwood                                     2.55
                                                       
 14  Minorplanet Systems                           2.53
                                                       
 15  Tristel                                       2.48
                                                       
 16  Asfare Group                                  2.40
                                                       
 17  Northbridge Industrial Services               2.31
                                                       
 18  Hartest Holdings                              2.31
                                                       
 19  MTI Wireless Edge                             2.16
                                                       
 20  Closed Loop London Ltd (loan                  2.15
     stock)                                            
                                                       
     Balance held in 24 holdings                  28.23
                                                       
                                                 100.00