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Downing Protected VCT VIII PLC (DPV8)

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Monday 17 November, 2008

Downing Protected VCT VIII PLC

Interim Management Statement





Downing Protected VCT VIII plc
Interim Management Statement
for the quarter ended 30 September 2008

In accordance with Rule 4.3 of the Disclosure and Transparency  Rules
of the UK Listing Authority, Downing Protected VCT VIII plc  presents
an Interim Management  Statement for the  quarter ended 30  September
2008.  The  statement also  includes relevant  financial  information
between the end of the period and the date of this statement.

Performance

                                                 30 Sept 30 Jun
                                                    2008   2008
                                                   Pence  Pence
Net Asset Value per Ordinary Share                  95.3   94.4
Net Asset Value per 'A' Share                        0.1    0.1
Net asset value per Ordinary Share and 'A' Share    95.4   94.5


Investment portfolio summary at 30 September 2008
Portfolio investments by value

                                                             Movement
                                                                 from
                                                        1 Jul 2008 to
                                     Cost   Valuation    30 Sept 2008
                                    £'000       £'000           £'000
Qualifying venture capital
investments
West Tower Holding Company          1,000       1,023              23
Thames Club Limited                   968         968               -
Hoole Hall Spa and Leisure Club Ltd   562         565               3
                                    2,530       2,530              26
Non qualifying venture capital
investments
Kings Gap Limited                     400         400               -
Sanguine Hospitality Limited          250         250               -
                                      650         650               -

Total                               3,180       3,180              26




Investment additions during the 3 months ended 30 September      Cost
2008
                                                                £'000
Thames Club Limited                                               968
Kings Gap Limited                                                 400
                                                                1,368


Between the 30 Sept 2008 and  the date of this report, the  following
investments have been made:


                                   Cost
                                  £'000
Pocket Living (Bath Road) Limited   796



Investment disposals during the quarter ended 30 Sept 2008

                              Market value              Gain    Total
                                        at  Disposal against realised
                         Cost   1 Jul 2008  proceeds    cost     gain
                        £'000        £'000     £'000   £'000    £'000
The Swan Holding
Company Limited         1,000        1,000     1,000       -        -
Sanguine Hospitality
Limited                   250          250       250       -        -
                        1,250        1,250     1,250       -        -



Issue of Shares / Changes to share capital
Between 1 July  2008 and 17  July 2008, 98,800  Ordinary shares  were
issued at 99.9p per share and 98,800 'A' shares were issued at  0.01p
per share  pursuant  to the  offers  for  subscription by  way  of  a
prospectus. The aggregate  consideration for the  shares was  £93,400
which excludes issue costs of £5,400.

When the offer closed  on 17 July 2008,  3,171,890 of the  Management
'A' Shares were  converted into Deferred  Shares of negligible  value
with no voting rights. Following this, the unconditionally issued 'A'
Share capital was 9,812,440 'A' Shares.

                    Ordinary Shares     A Shares      Deferred Shares
                     of  0.1p each    of  0.1p each    of  0.1p each
                       Shares £'000      Shares £'000    Shares £'000
As at 1 July 2008   8,557,422     9  12,885,530    13         -     -
Shares issued          98,800     -      98,800     -         -     -
Converted to                -     - (3,171,890)   (3) 3,171,890     3
Deferred Shares
As at 30 September  8,656,222     9   9,812,440    10 3,171,890     3
2008


Material events
Other than described above, there were no material events during  the
period from 1 July 2008 to 30 September 2008 or in the period from  1
October 2008 to the date of this announcement.

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