Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2007


In accordance with Rule 4.3 of the Disclosure and Transparency  Rules
of the  UK Listing  Authority,  ProVen VCT  plc presents  an  Interim
Management Statement for the three month  period ended 31 May 2007.
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
On 5  April 2007,  the  Company paid  a  second interim  dividend  in
respect of  the year  ended  28 February  2007  of 15p  per  Ordinary
Share.   This  dividend was  paid  to Ordinary  Shareholders  on  the
register at 23 March 2007.

As a result of  the dividends paid in  the period, fees amounting  to
£699,000 were paid from the Company's Ordinary Share Pool (equivalent
to 3p per Ordinary Share)  to Beringea Limited and Downing  Corporate
Finance Limited  under the  terms of  the performance  incentive  fee
agreement.

Performance
Ordinary shares

                       31 May   28 February   31 August   28 February
                         2007          2007        2006          2006
                        Pence         Pence       Pence         Pence
Net Asset Value          92.7         108.3       133.9         111.3
("NAV")
Cumulative               68.2          53.2        22.2          18.7
Dividends
Total Return *          160.9         161.5       156.1         130.0

* NAV plus cumulative dividends paid since launch

'C' Shares

                       31 May   28 February   31 August   28 February
                         2007          2007        2006          2006
                        Pence         Pence       Pence         Pence
Net Asset Value          94.8           N/A         N/A           N/A
("NAV")
Cumulative                  -           N/A         N/A           N/A
Dividends
Total Return *           94.8           N/A         N/A           N/A

* NAV plus cumulative dividends paid since launch

Quoted shares are valued at the closing bid price on 31 May 2007.
Unquoted shares are valued at the 28 February 2007 valuation (unless
there has been a material change) as adjusted for purchases, sales
and material variations.

Investment portfolio summary at 31 May 2007

Ordinary Share Portfolio investments

                                                             Movement
                                         Cost   Valuation   in period
                                        £'000       £'000       £'000
Top ten venture capital investments
(by value)
Espresso Broadband Limited              2,048       5,332           -
ILG Digital Limited                     1,345       3,351           -
Oasis Healthcare plc *                    617       1,504         608
SPC International Limited               1,146       1,110           -
Campden Media Limited                     975       1,053           -
Optima Data Intelligence Services
Limited                                   900         900           -
Gyro International Limited                652         865
Ashford Colour Press Limited            1,000         834           -
Pilat Media Global plc *                  173         588        (60)
Cardpoint plc *                           384         569           1
                                        9,240      16,106         596

Other venture capital investments       5,426       1,343        (50)

Liquidity funds                         2,250       2,250           -

Total                                  16,916      19,699         499


'C' Share Portfolio investments by value

                                                 Movement
                             Cost   Valuation   in period
                            £'000       £'000       £'000
Venture capital investments
Dianomi Limited               126         126           -


* Quoted on AIM

Investment additions during the 3 months ended 31 May 2007


                                           Cost
                                          £'000

Ordinary Share Portfolio
Coolabi plc                                 200
Eagle Rock Entertainment Group Limited      420
Optima Data Intelligence Services Limited   900
                                          1,520

'C' Share Portfolio
Dianomi Limited                             126


After the  period  end  the Company  invested  £650,000  in  Heritage
Partners Limited and £480,000 in Harmony Media Group Limited.

Investment disposals during the 3 months ended 31 May 2007

                    Market value at
                       1 March 2007          Gain/(loss)        Total
                                    Disposal      against    realised
               Cost                 proceeds         cost gain/(loss)
              £'000           £'000    £'000        £'000       £'000
Cardpoint plc    54             113      111           57         (2)
Chiaros -
retention
release           -               -       33           33          33
Oasis
Healthcare       53              86      141           88          88
                107             199      285          178         119


After  the  period  end  the  Company  made  the  following   further
disposals:



                                         Gain/(loss)  against
                       Disposal proceeds                 cost
                  Cost
                 £'000             £'000                £'000
Cardpoint plc      384               555                  182
Oasis Healthcare   617             2,080                1,463
                 1,001             2,635                1,645


Changes to share capital

                                   Ordinary                'C'
                                     Shares             Shares
                                      of 5p             of 25p
                                       each               each
                                     Shares £'000       Shares £'000
As at 28 February 2007           23,310,016 1,165            -     -
Shares issued in period                   -     -   14,620,454 3,655
Shares bought back and cancelled          -     -            -     -
As at 31 May 2007                23,310,016 1,165   14,620,454 3,655


The Company issued 14,620,454 'C' Shares of 25p each during the
period, under the terms of a prospectus dated 14 November 2006, at
£1.00 per share.  Issue costs thereon amounted to £804,000.

Since the period end, the Company acquired 77,048 of its own Ordinary
Shares for cancellation.

Material events
Other than described above, there were no material events during  the
period from 1 March 2007 to 31 May 2007 or in the period from 1  June
2007 to the date of this announcement.

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