Portfolio Update

CHELVERTON GROWTH TRUST PLC (the 'Company')

In accordance with UKLA Listing Rule 21.20(l)(ii) quarterly disclosure
requirement, the following list represents the Company's 10 largest investments
as at 28th February 2005 and where appropriate, any investment with a value
greater than 5% of the Company's gross assets:

Name of company                            Class of share
                                                         
AI Claims                                  Ordinary      
                                                         
Bioquell                                   Ordinary      
                                                         
Chelverton Asset Management                Ordinary      
                                                         
Dinkie Heel                                Ordinary      
                                                         
IDOX                                       Ordinary      
                                                         
Merrydown                                  Ordinary      
                                                         
Newmark Security Group                     Ordinary      
                                                         
Oasis Healthcare                           Ordinary      
                                                         
Petards Group                              Ordinary      
                                                         
Stanley Gibbons                            Ordinary