Interim Management Statement and Result of AGM

11 May 2011

                                 HYGEA VCT PLC

                          INTERIM MANAGEMENT STATEMENT
                                      AND
                                 RESULT OF AGM

Hygea  Vct plc ('the Company') presents its interim management statement for the
period  from 1 January 2011 to 11 May 2011. This constitutes the Company's first
interim  management statement for the financial year ending 31 December 2011, as
required  by the UK  Listing Authority's Disclosure  and Transparency Rule 4.3.
This  statement has  been prepared  solely to  provide additional information in
order  to meet  the requirements  of the  Disclosure and  Transparency Rules and
should  not be  relied on  by shareholders,  or any  other party,  for any other
purpose.

The  unaudited net asset  value per ordinary  share and the  number of shares in
issue  at  31 March  2011 were  75.4p and  8,115,376 respectively  (31  December
2010: 77.4p and  8,115,376 respectively).  There were no shares held in Treasury
at either date.

No shares have been issued or repurchased during the period.

At 31 March 2011, the Company's assets included its portfolio of unlisted assets
along with £410,690 in cash and £1,952,088 in AIM shares valued at bid price.

During  the three months ended 31 March  2011, as detailed in the annual report,
the  Company made  an investment  of £72,340  into Archimed Limited, a woundcare
business  spun out of  Insense Limited and  £250,000 into Freehand 2010 Limited.
Since  31 March 2011, the Company has made  a further investment of £50,000 into
Axon Limited.

The  reduction in  net asset  value during  the period  arose primarily from the
reduction  in  the  bid  prices  of  the  AIM quoted portfolio. Following Axon's
fundraising,  the Company's holding has been  revalued upwards by £81,815. There
were no other changes to the valuation of the unquoted portfolio.

The  Board considers that  overall the portfolio  is making positive operational
progress, but this cannot yet be reflected in the net asset value.

Save  for the further investment in Axon Limited, the directors are not aware of
any  other events which have  taken place between 31 March  2011 and the date of
publication of this statement, which have had a material effect on the financial
position of the Company.

At  the  Annual  General  Meeting  of  the  Company  held today, all resolutions
contained in the Notice of Meeting were duly passed.





Enquiries:
James Otter, Hygea vct plc [e-mail]
Charles Breese, Hygea vct plc on 01280 703482 [e-mail]

website: www.hygeavct.com

Roland Cornish, Beaumont Cornish Limited on 020 7628 3396







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Source: Hygea VCT plc via Thomson Reuters ONE

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