Performance at Month End

HG Capital Trust PLC
10 September 2003

HgCapital Trust plc

All information is at 29 August 2003 and unaudited.

Performance at month end with net income reinvested

                                         One month       Three months            One       Three years       Five years
                                                                                year
Net asset value                               3.4%               4.7%           4.8%             -6.7%            42.6%
Share price                                   1.4%              -1.2%          -1.5%            -26.2%            25.9%
FTSE All-Share Index                          1.6%               5.9%           4.7%            -29.4%            -2.5%


Sources: HgCapital, Standard & Poor's Micropal
At month end
Net asset value:*                             360.41p
Share price:                                  253.50p
Discount:                                     29.7%
Total assets:                                 £89.8m
Net yield:                                    3.16%
Gearing:                                      Nil
Ordinary shares in issue:                     25,186,755

* includes current year net revenue of 3.73p.

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 2003.
UK Sector                                                     Total Assets %

Healthcare                                                              19.9
Information Technology                                                  13.3
Pharmaceuticals                                                         11.8
Electronics                                                             10.8
Hotels & Leisure                                                        10.7
Engineering                                                              8.2
Support Services                                                         5.8
Media                                                                    4.1
Overseas Venture Funds                                                   3.4
Other                                                                    0.3
Fixed Interest                                                           7.9
Net Current Assets                                                       3.4
Cash                                                                     0.4
                                                                       100.0


Ten Largest Investments Company
                                                              Total Assets % Sector

Raymarine                                                               10.8 Electronics
FTE Automotive                                                           8.2 Engineering
Alizyme                                                                  7.1 Pharmaceuticals
Tunstall                                                                 6.5 Healthcare
Match Holdings                                                           6.3 Healthcare
Travelsphere                                                             5.0 Hotels & Leisure
Pharma Bio-Research                                                      4.8 Healthcare
Castlebeck                                                               4.2 Healthcare
Eagle Rock Entertainment                                                 4.1 Media
Acuid                                                                    3.9 Information Technology
                                                                        60.9


10 September 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange