Interim Management Statement

Quester VCT plc ('the Company')

Interim Management Statement

This Interim Management Statement for the quarter ended 31 May 2007, is
unaudited and is provided in accordance with Rule 4.3 of the Disclosure and
Transparency Rules of the UK Listing Authority. The statement also includes
relevant information from the period from 1 June 2007 to the date of issue. The
Statement has been prepared solely to provide additional information in order
to meet the relevant requirements of the UK Listing Authority's Disclosure and
Transparency Rules, and should not be relied on by Shareholders, or any other
party, for any other purpose.

Net Asset Value (NAV) and Dividends

The NAV at the 31 May 2007 was 38.8p per share. The NAV before dividends and
share buy-backs was 41.7p per share, which represented a net increase of 0.1p
per share on the NAV reported in the audited Annual Report for the year ended
28 February 2007.

A second interim dividend of 2.8p per share in respect of the year ended 28
February 2007 was paid on 21 March 2007.

Taking account of movements in the valuation of the quoted and unquoted
investments since the 31 May 2007, the NAV at the 30 June 2007 is estimated at
37.6p per share. No significant changes have occurred since 30 June 2007.

Venture Capital Investments

During the quarter the Company made follow-on investments of £178,000 and one
new unquoted investment of £108,000. Cash proceeds of £783,000 were received on
sales, or part sales, of three quoted investments.

Since the quarter end a further £578,000 of follow-on investment has been made
and proceeds of £40,000 were received from the sale of one quoted investment.

Share Capital

The number of ordinary shares in issue at 31 May 2007 was 115,749,602. During
the quarter ended 31 May 2007, 638,028 shares were bought back by the Company
and 279,391 shares were issued under the dividend reinvestment scheme.

Since the 31 May 2007 a further 948,337 shares have been bought back.

Other than described above, the Board is not aware of any events during the
period from 28 February 2007 to the date of this statement, which would have
had a material impact on the financial position of the Company.

Issued on behalf of the Board

Nghi Tran
Company Secretary
26 July 2007