Performance at month end

HG Capital Trust PLC
10 May 2005


HgCapital Trust

All information is at 30 April 2005 and unaudited.

Performance at month end with net income reinvested

                       One month    Three months        One     Three      Five 
                                                       year     years     years

Net asset value            -1.3%            0.8%      26.6%      36.6%    49.2%
Share price                -2.5%            6.2%      42.3%      68.3%    93.6%
FTSE All-Share Index       -2.3%           -0.6%      10.7%       5.6%    -6.9%

Sources: HgCapital, Standard & Poor's Micropal

At month end
Net asset value:*                             485.47p
Share price:                                  489.50p
Discount:                                     0.8%
Total assets:                                 £120.2m
Net yield:                                    1.6%
Gearing:                                      Nil%
Ordinary shares in issue:                     25,186,755

* includes current year net revenue of 8.38p

The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.
Unquoted investments were last revalued at 31 December 2004.

Sector                                     Total Assets
                                                      %

Healthcare                                         20.4
Technology                                         20.2
Industrials                                        14.5
Media                                              12.1
Leisure                                             6.8
Consumer                                            3.8
Other                                               2.2
Renewable Energy                                    0.8
Fixed Interest                                     14.9
Net Current Assets                                  3.8
Cash                                                0.5

                                                  100.0


Ten Largest Investments

Company                                    Total Assets Sector
                                                      %

Tunstall                                            9.1 Healthcare
Xtx                                                 8.8 Technology
WET Automotive                                      6.2 Industrials
FTE Automotive                                      5.7 Industrials
Blue Minerva                                        5.5 Technology
Classic Copyright                                   5.0 Media
Clarion Events                                      3.5 Media
Eagle Rock                                          3.5 Media
Travelsphere                                        3.3 Leisure
Raymarine                                           3.3 Consumer

                                                   53.9


The sale of FTE Automotive to PAI Partners announced in March 2005, is
conditional upon the approval of competition authorities in certain
jurisdictions, and is expected to close in the second quarter of 2005.  The
estimated impact of the sale of 28p per share is currently not reflected in the
NAV as at 30 April 2005.

10 April 2005


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