Interim Management Statement

Albion Venture Capital Trust PLC
                          Interim Management Statement

Introduction
I  am  pleased  to  present  Albion  Venture Capital Trust PLC's (the "Company")
interim  management statement  for the  period from  1 April to 5 August 2010 as
required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Financial position and dividends
The  Company's unaudited net asset value (NAV), based on management accounts, as
at  30 June 2010 was £27.8 million (31  March 2010: £27.5 million) or 80.0 pence
per share (excluding treasury shares) (31 March 2010: 79.1 pence per share).

The  current NAV and comparative figures are calculated after accounting for the
first dividend for the year to 31 March 2011 of 2.5 pence per share (total cost:
£867,000)  which was paid on 25 June 2010 to  shareholders on the register as at
28 May 2010.

After adding back the first dividend for the financial year, the net asset value
has risen by 0.9 pence or 1.1 per cent. since 31 March 2010.

As at 30 June 2010, total cash on deposit, or short term money market, and other
liquid  instruments amounted to approximately  £1.2 million (31 March 2010: £2.1
million).

Portfolio
During the period from 1 April 2010 to 5 August 2010, the Company made a further
investment  in The Stanwell  Hotel Limited of  £123,000 and a  new investment of
£64,000 in TEG Biogas (Perth) Limited, a food waste anaerobic digestion plant.

Disposals
During  the period from 1 April 2010 to  5 August 2010, Kew Green VCT (Stansted)
Limited repaid loan stock of £165,000 to the Company.

Top ten holdings as at 30 June 2010:

+------------------------------------+---------------------+
|          Investee Company          | Carrying/fair value |
|                                    |       £000's        |
+------------------------------------+---------------------+
| Kew (Green) VCT (Stansted) Limited |        6,554        |
+------------------------------------+---------------------+
| The Stanwell Hotel Limited         |        2,809        |
+------------------------------------+---------------------+
| The Crown Hotel Harrogate Limited  |        2,158        |
+------------------------------------+---------------------+
| G&K Smart Developments VCT Limited |        1,886        |
+------------------------------------+---------------------+
| City Screen (Cambridge) Limited    |        1,653        |
+------------------------------------+---------------------+
| The Place Sandwich VCT Limited     |        1,501        |
+------------------------------------+---------------------+
| The Charnwood Pub Company Limited  |        1,434        |
+------------------------------------+---------------------+
| The Bear Hungerford Limited        |        1,413        |
+------------------------------------+---------------------+
| The Weybridge Club Limited         |        1,175        |
+------------------------------------+---------------------+
| CS (Greenwich) Limited             |        1,055        |
+------------------------------------+---------------------+

Material Events and Transactions

Dividends
As  mentioned above, a dividend of 2.5 pence  per Ordinary share was paid on 25
June 2010 to shareholders on the register as at 28 May 2010.

Dividend Reinvestment Scheme
The  Company  continues  to  offer  a  Dividend  Reinvestment Scheme to existing
shareholders.       Details      of     this     Scheme     can     be     found
atwww.albion-ventures.co.uk/Our  Funds/Albion Venture  Capital Trust  PLC in the
Circular issued to shareholders on 10 July 2008.  49,774 Ordinary shares of 50p
each  in the capital  of the Company  were allotted on  25 June 2010 at an issue
price of 79.1pence per share representing 4.5 per cent. of the dividends paid.

Share buy-backs
During  the  period  from  1 April  2010 to 5 August 2010, the Company purchased
279,000 shares at an average of 67.9 pence per share.  These shares will be held
in  treasury.  The Board  has allocated £200,000  for share buybacks  for the 6
months  to 30 September 2010.  Following the buybacks  mentioned above, as at 5
August  2010 the Company has approximately  £10,000 allocated for buybacks until
30 September  2010, at which point the Board  will review the policy on buybacks
again.

Share price
The  closing mid market price for the  shares on 30 June 2010 was 68.0 pence per
share,  resulting in a 15 per cent discount to the net asset value of 80.0 pence
per share.

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 April 2010 and 5 August 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/Our Funds/Albion Venture Capital Trust PLC.

David Watkins, Chairman
5 August 2010

For further information please contact:
Patrick Reeve
Albion Ventures LLP
Tel: [phone]


[HUG#1436211]








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