Performance at Month End

HgCapital Trust plc

All information is at 30 November 2010 and unaudited.

Performance at month end with net income reinvested

                     One       Three     One    Three      Five       Ten 
                   month      months    year    years     years     years   
                                                                         
Net asset value     1.3%        3.4%   12.3%    14.2%     84.9%    186.9%
Share price         1.0%       16.9%   14.5%    25.2%     84.2%    248.9%
FTSE All-Share                                                           
Index               -2.3%       6.8%   11.5%    -2.3%     24.5%     20.7%

Sources: HgCapital, Factset

At month end

Net asset value:*                                                            
Basic                                                                  970.4p
Diluted                                                                967.0p
Share price ordinary shares:                                           950.0p
Ordinary share price discount to NAV                                         
(basic):                                                                 2.1%               
Ordinary share price discount to NAV                                         
(diluted):                                                               1.8%
Share price subscription shares:                                        89.5p
Total net assets:                                                     £301.8m
Net yield:                                                               2.6%
Gearing:                                                                 Nil%
Ordinary shares in issue:                                          31,103,915
Subscription shares in issue:                                       6,220,783
                                                                             
* includes 11 months net revenue of 17.82p                                   

Following the partial realisation of Visma (expected to be completed in
December 2010), the NAV is estimated to be £320.9 million (1,031.8 pence per
share basic; 1,018.1 pence per share diluted). The ordinary share price is
trading at a 7.9% discount to the adjusted NAV of 1,031.8 pence per share; 6.7%
discount to the adjusted diluted NAV of 1,018.1 pence per share.

The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.

Unquoted investments were last revalued at 30 June 2010.

Sector                                                           Total Assets
                                                                            %
Technology & Media                                                       37.7
Industrials                                                              11.3
Healthcare                                                               10.7
Services                                                                  4.9
Consumer & Leisure                                                        4.6
Renewable Energy                                                          4.7
Other                                                                     8.7
Cash and other liquid assets*                                            17.4
                                                                             
                                                                        100.0

* Cash and other liquid assets are stated before the investment in ATC,
scheduled to complete in December 2010/January 2011, and the partial
realisation of Visma, scheduled to complete in December 2010. After completion
of both, cash and other liquid assets is estimated to be 25.4% of total
adjusted net assets.

Ten Largest Investments

Company                           Total Assets Sector                          
                                             %                                 
VISMA                                     13.5 Technology & Media              
TeamSystem                                 8.1 Technology & Media              
Stepstone Solutions                        6.2 Technology & Media              
Frosunda                                   4.9 Healthcare                      
HG Renewable Energy (Fund 1)               4.5 Renewable Energy                
JLA                                        3.8 Services                        
Manx Telecom                               3.7 Technology & Media              
Mondo Minerals Co-op                       3.6 Industrials                     
SimonsVoss                                 3.3 Industrials                     
SLV Electronic                             3.2 Industrials                     
                                                                               
                                          54.8                                 
                                                                               
07 December 2010