Interim Management Statement

Elderstreet VCT plc
Interim Management Statement
for the three months ended 31 March 2009

In accordance with Rule 4.3 of the Disclosure and Transparency  Rules
of the UK Listing Authority, Elderstreet VCT plc presents an  Interim
Management Statement for the three month period ended 31 March 2009.
The statement also  includes relevant  financial information  between
the end of the period and the date of this statement.

Dividends paid or declared in the period
No dividends were paid or declared in the period to 31 March 2009.

On 8 April 2009, the Board declared proposed a final dividend in
respect of the year to 31 December 2008 at 1.0p per Ordinary Share.
 Subject to shareholder approval at the forthcoming Annual General
Meeting ("AGM"), the dividend will be paid on 12 June 2009 to
Shareholders on the register at 15 May 2009.


Performance

                                           31 March 31 December
                                               2009        2008
                                              Pence       Pence

Net Asset Value ("NAV")                        70.6        72.8
Cumulative Dividends                           43.0        43.0
Total Return *                                113.6       115.8
* (NAV plus cumulative dividends paid since launch)


Investment portfolio summary at 31 March 2009

                                                             Movement
Ordinary Pool                               Cost Valuation  in period
                                           £'000     £'000      £'000
Ten largest investments by
value
Wessex Advanced Switching                     60     2,673
Products Limited                                                    -
Snacktime plc               Quoted on AIM  1,725     1,631      (340)
Fords Packaging Systems                      588     1,151
Holdings Limited                                                  563
Lyalvale Express Limited                     915     1,027          -
Baldwin      &      Francis                  690     1,020
(Holdings) Limited                                                  -
Smart Education Limited                    1,403       985          -
Wecomm Limited                               850       745          -
The Engine Group Limited                     600       726          -
Access Intelligence plc     Quoted on AIM    633       460          -
AngloINFO Limited                            328       328          -

Subtotal                                   7,792    10,746        223
Other venture capital
investments                                5,922     1,643      (141)
Listed fixed income
securities                                 2,236     2,292        (4)

Total                                     15,950    14,681         78


All investments are unquoted unless otherwise stated.

Investment additions during the 3 months ended 31 March 2009


                                          Cost
                                         £'000

Fords Packaging Systems Holdings Limited   588
Treasury 3.25% 2011                        719

                                         1,307


There have been  no additions since  the period end  and the date  of
this report.

Investment disposals during the 3 months ended 31 March 2009

                               Market
                             value at            Gain/(loss)    Total
                            1 January  Disposal    in period realised
                       Cost      2009  proceeds against cost     gain
                      £'000     £'000     £'000        £'000    £'000

Alterian plc            125        57        49         (76)      (8)
Fords Packaging
Systems Limited          83       542        83            -    (459)
Mears Group plc          66        73        59          (7)     (14)
Nucleus Cash Trust      246       243       244          (2)        1
Treasury 4% 2009        936       962       957           21      (5)
                      1,456     1,877     1,392         (64)    (485)


Changes to share capital

                                 Ordinary Shares of
                                      5p each
                                      Shares  £'000
As at 1 January 2009              21,570,481  1,079
Shares issued                              -      -
Shares bought back and cancelled           -      -
As at 31 March 2009               21,570,481  1,079


The Company issued 1,862,390 Ordinary Shares of 5p each between 2
April 2009 and 3 April 2009 under Offers for Subscription dated 9
December 2008, at a price of 74.7p per Ordinary Share.

No shares have been bought back for cancellation since the period
end.

Material events
Other than described above, there were no material events during the
period from 1 January 2009 to 31 March 2009 or in the period from 1
April 2009 to the date of this announcement.

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.