Interim Management Statement

Albion Technology & General VCT PLC Interim Management Statement

Introduction
I  am  pleased  to  present  the  Albion  Technology & General VCT PLC's interim
management statement for the period from 1 January to 17 May 2010 as required by
the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Performance and dividends
The  Company's unaudited net asset value (NAV), based on management accounts, as
at  31 March 2010 was £11.7  million (31 December  2009: £11.4 million) or 91.5
pence  per share (excluding  treasury shares) (31  December 2009: 88.7 pence per
share) in respect of the Ordinary share portfolio and £24.7 million (31 December
2009: £24.7  million) or  71.2 pence per  share (excluding  treasury shares) (31
December 2009: 71.2 pence per share) in respect of the C share portfolio.

The current NAVs and comparative figures are calculated after accounting for the
first  dividend for  the year  to 31 December  2010 of 4 pence  per share (total
cost:  £513,000) in  respect of  Ordinary shares  and 1.5 pence per share (total
cost:  £520,000)  which  will  be  paid  on  21 May  2010 to shareholders on the
register as at 23 April 2010.

After adding back the first dividend for the financial year, the net asset value
of  the Ordinary share portfolio has risen by 2.8 pence or 3 per cent. since 31
December  2009, mainly  as  a  result  of  an  increase  in the valuation of the
Company's  unquoted investments.  The  net asset value  of the C share portfolio
has not changed materially since 31 December 2009.

Portfolio
The  following investments have been made during the period from 1 January 2010
to 11 May 2010:

+--------------------------+---------------+--------+--------------------------+
|Name                      |    £000's     | £000's |                          |
+--------------------------+---------------+--------+--------------------------+
|                          |Ordinary shares|C shares|                          |
+--------------------------+---------------+--------+--------------------------+
|Taunton Nursing Home      |       -       |  213   |The two portfolio         |
|Limited (further          |               |        |companies are invested in |
|investment)               |               |        |a project which is        |
|                          |      202      |  348   |converting a nursing home |
|Orchard Portman Hospital  |               |        |in Taunton, Somerset into |
|Limited (new investment)  |               |        |a mental health hospital  |
+--------------------------+---------------+--------+--------------------------+
|Forth Photonics Limited   |      53       |  227   |Developer, manufacturer   |
|(further investment)      |               |        |and seller of medical     |
|                          |               |        |devices for the detection |
|                          |               |        |of epithelial cancers     |
+--------------------------+---------------+--------+--------------------------+
|Oxsensis Limited (further |      40       |  228   |Developer and producer of |
|investment)               |               |        |industrial sensors used in|
|                          |               |        |super-high temperature    |
|                          |               |        |environments              |
+--------------------------+---------------+--------+--------------------------+
|Mi-pay Limited (further   |      31       |  186   |Provider of mobile payment|
|investment)               |               |        |services                  |
+--------------------------+---------------+--------+--------------------------+
|Prime Care Holdings       |      48       |  168   |Provider of domiciliary   |
|Limited (further          |               |        |care services             |
|investment)               |               |        |                          |
+--------------------------+---------------+--------+--------------------------+
|Rostima Limited (further  |       5       |   55   |Provider of workforce     |
|investment)               |               |        |management solutions      |
|                          |               |        |software                  |
+--------------------------+---------------+--------+--------------------------+
|GB Pub Company VCT Limited|       2       |   -    |Freehold pub owner and    |
|(further investment)      |               |        |operator                  |
+--------------------------+---------------+--------+--------------------------+

 Disposals
During  the period from 1 January 2010 to  11 May 2010, the following loan stock
repayments were made:

+-------------------------------------+-----------------+----------+
| Name                                |     £000's      |  £000's  |
+-------------------------------------+-----------------+----------+
|                                     | Ordinary shares | C shares |
+-------------------------------------+-----------------+----------+
| Consolidated PR Limited             |       44        |    -     |
+-------------------------------------+-----------------+----------+
| The Dunedin Pub Company VCT Limited |       37        |   124    |
+-------------------------------------+-----------------+----------+
| sparesFinder Limited                |       31        |    -     |
+-------------------------------------+-----------------+----------+
| Peakdale Molecular Limited          |       22        |    -     |
+-------------------------------------+-----------------+----------+
| City Screen (Liverpool) Limited     |        5        |    -     |
+-------------------------------------+-----------------+----------+
| CS (Greenwich) Limited              |        3        |    -     |
+-------------------------------------+-----------------+----------+
| River Bourne Club Limited           |        1        |    12    |
+-------------------------------------+-----------------+----------+

In  addition, proceeds of £21,000  were received in relation  to the disposal of
the Ordinary share portfolio's holding in OneClickHR plc.

Top ten qualifying holdings as at 31 March 2010:

+--------------------+-------------------+-----------------+-------------------+
|   Ordinary share   |Carrying/fair value|C share portfolio|Carrying/fair value|
|    portfolio -     |      £000's       |        -        |      £000's       |
|     Investment     |                   |    Investment   |                   |
+--------------------+-------------------+-----------------+-------------------+
|Evolutions          |       1,089       |Kensington Health|       2,092       |
|Television Limited  |                   |Clubs Limited    |                   |
+--------------------+-------------------+-----------------+-------------------+
|The Q Garden Company|        967        |The Charnwood Pub|       1,738       |
|Limited             |                   |Company Limited  |                   |
+--------------------+-------------------+-----------------+-------------------+
|Xceleron Limited    |        893        |Mi-pay Limited   |       1,450       |
+--------------------+-------------------+-----------------+-------------------+
|Peakdale Molecular  |        839        |Helveta Limited  |       1,178       |
|Limited             |                   |                 |                   |
+--------------------+-------------------+-----------------+-------------------+
|Consolidated PR     |        735        |Taunton Hospital |       1,000       |
|Limited             |                   |Limited          |                   |
+--------------------+-------------------+-----------------+-------------------+
|The Weybridge Club  |        489        |Blackbay Limited |        918        |
|Limited             |                   |                 |                   |
+--------------------+-------------------+-----------------+-------------------+
|Geronimo Inns I     |        421        |Xceleron Limited |        810        |
|Limited             |                   |                 |                   |
+--------------------+-------------------+-----------------+-------------------+
|Geronimo Inns II    |        421        |Bravo Inns II    |        785        |
|Limited             |                   |Limited          |                   |
+--------------------+-------------------+-----------------+-------------------+
|Bravo Inns II       |        404        |The Weybridge    |        710        |
|Limited             |                   |Club Limited     |                   |
+--------------------+-------------------+-----------------+-------------------+
|Blackbay Limited    |        383        |Oxsensis Limited |        708        |
+--------------------+-------------------+-----------------+-------------------+

Material Events and Transactions
As mentioned above, a dividend of 4 pence per Ordinary share and 1.5 pence per C
share will be paid on 21 May 2010 to shareholders on the register as at 23 April
2010.

During  the  period  from  1 January  2010 to 17 May 2010, the Company purchased
40,000 Ordinary  shares at a price of 68 pence per share and 422,000 C shares at
an average price of 58 pence per share. These shares will be held in treasury.

The  Company  continues  to  offer  a  Dividend  Reinvestment Scheme to existing
shareholders.      Details     of     this    Scheme    can    be    found    at
www.albion-ventures.co.uk/Our             <

http://www.albion-ventures.co.uk/Our>
Funds/Albion Technology & General VCT PLC.

There  have been no further significant events or transactions that the Board is
aware  of which would  have a material  impact on the  financial position of the
Company between 1 January 2010 and 17 May 2010.

Further  information regarding  historic and  current financial  performance and
other  useful shareholder information  can be found  on the Fund's website under
www.albion-ventures.co.uk  <

http://www.albion-ventures.co.uk/>/Our  Funds/Albion
Technology & General VCT PLC.

Dr. Neil Cross, Chairman
17 May 2010

For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: [phone]


[HUG#1416381]