Portfolio Update

HG Capital Trust PLC In accordance with UKLA Listing Rule 15.4.11(2), the following list represents the Company's largest investments at 30 June 2007 and where appropriate, any investment with a value greater than 5% of the Company's gross assets Top 10 Private Equity Holdings: VISMA* Schenck* Paragon Limited* Elite Surrey 1 WET Automotive Addison Sanctuary Spa FTSA Holdings Clarion Events * Holdings over 5% 4 July 2007
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