Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Chelverton Growth Trust Plc

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                            Yes     
                                                                               
An acquisition or disposal of financial instruments which may                  
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):                                                        

3. Full name of person(s) subject to the notification obligation    Philip J   
(iii):                                                              Milton &   
                                                                   Company Plc 
                                                                               
4. Full name of shareholder(s) (if different from 3.) (iv):        Investment  
                                                                   clients of  
                                                                    Philip J   
                                                                    Milton &   
                                                                   Company Plc 
                                                                               
5. Date of the transaction (and date on which the threshold is     09 May 2007 
crossed                                                                        
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                                  11 May 2007 
                                                                               
7. Threshold(s) that is/are crossed or reached:                       4.11%    
                                                                               
8. Notified details:                                                           

A: Voting rights attached to shares

 Class/type of       Situation       Resulting situation after the triggering  
     shares         previous to                 transaction (vii)              
  if possible     the Triggering                                               
 using the ISIN  transaction (vi)                                              
      CODE                                                                     
                                                                               
                 Number   Number    Number  Number of voting     % of voting   
                   of       of        of       rights (ix)         rights      
                 Shares   Voting    shares                                     
                          Rights                                               
                          (viii)                                               
                                                                               
                                    Direct   Direct  Indirect  Direct  Indirect
                                              (x)      (xi)                    
                                                                               
Ordinary Shares  274,984  274,984  721,045  721,045            4.11%           
                                                                               
  GB0002621349                                                                 
                                                                               

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial    date (xiii)      Conversion      rights that may be     voting  
 instrument                 Period/ Date (xiv)    acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
721,045                                 4.11%                                  

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are
effectively held, if applicable (xv):



Proxy Voting:


10. Name of the proxy holder:                                 Philip J Milton &
                                                              Company Plc      
                                                                               
11. Number of voting rights proxy holder will cease to hold:                   
                                                                               
12. Date on which proxy holder will cease to hold voting                       
rights:                                                                        

13. Additional information:                                                    
                                                                               
14. Contact name:                                             Philip Milton    
                                                                               
15. Contact telephone number:                                 01271 344300     

Annex Notification Of Major Interests In Shares (xvi)


A: Identity of the person or legal entity subject to the                       
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           Philip J Milton &
                                                              Company Plc      
                                                                               
Contact address (registered office for legal entities)        Sterling House,  
                                                              17 Joy Street,   
                                                              Barnstaple,      
                                                              Devon, EX31 1HE  
                                                                               
Phone number                                                  01271 344300     
                                                                               
Other useful information (at least legal representative for                    
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)                              
                                                                               
Full name                                                     Sandra Wonnacott 
                                                                               
Contact address                                               As Above         
                                                                               
Phone number                                                  As Above         
                                                                               
Other useful information (e.g. functional relationship with   Director         
the person                                                                     
or legal entity subject to the notification obligation)                        

C: Additional information