Portfolio Update

HG Capital Trust PLC
09 November 2005

HgCapital Trust

All information is at 31 October 2005 and unaudited.

Performance at month end with net income reinvested

                                         One    Three    One     Three     Five 
                                         month  months   year    years    years
Net asset value                            -1.0%   0.0%  38.1%   78.4%     51.2%
Share price                                -1.9%   7.0%  57.2%  191.9%     98.5%
FTSE All-Share Index                       -2.9%   1.7%  20.3%   53.8%      3.2%


Sources: HgCapital, Standard & Poor's Micropal
At month end
Net asset value:*                             575.37p
Share price:                                  585.00p
Premium:                                      1.7%
Total assets:                                 £141.6m
Net yield:                                    1.4%
Gearing:                                      Nil%
Ordinary shares in issue:                     25,186,755

* includes current year net revenue of 13.26p

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 2005.
Sector                                                          Total Assets

                                                                           %

Technology                                                              23.1
Media                                                                   11.5
Healthcare                                                              10.6
Leisure                                                                 10.1
Industrials                                                              7.1
Consumer                                                                 2.9
Other                                                                    2.2
Renewable Energy                                                         0.9
Fixed Interest                                                          28.8
Net Current Assets                                                       2.8
                                                                       -----

                                                                       100.0

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Ten Largest Investments

Company                                                      Total Assets Sector

                                                                           %

Xtx                                                               7.4 Technology
WET Automotive                                                   4.7 Industrials
Blue Minerva                                                     4.7 Technology
Travelsphere                                                     4.6 Leisure
Classic Copyright                                                4.3 Media
Elite                                                            4.2 Technology
Sanctuary Spa                                                    4.0 Leisure
Eagle Rock                                                       3.7 Media
Clarion Events                                                   3.5 Media
Addison                                                          3.3 Technology

                                                                   ------
                                                                    44.4

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9 November 2005


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