Net Asset Value(s)

CHELVERTON GROWTH TRUST PLC

The Net Asset Value, based on bid prices, per Ordinary Share of 1p (including
current period revenue to 30 June 2009) at close of business on 31 July 2009
was 18.53p.

Bank overdraft as at 31 July 2009 was £130,000.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              18.77
                                                              
     2 Closed Loop London                                12.65
                                                              
     3 AI Claims                                         10.40
                                                              
     4 Tristel                                            6.54
                                                              
     5 Belgravium Technologies                            5.31
                                                              
     6 Petards Group                                      5.31
                                                              
     7 Forest Support                                     4.36
                                                              
     8 Parmenion                                          4.07
                                                              
     9 CEPS                                               3.77
                                                              
    10 MTI Wireless Edge                                  3.72
                                                              
    11 LPA Group                                          3.01
                                                              
    12 Hartest Holdings                                   2.65
                                                              
    13 Alliance Pharma                                    2.52
                                                              
    14 Northbridge Industrial Services                    2.04
                                                              
    15 Satcom                                             1.85
                                                              
    16 Datong                                             1.84
                                                              
    17 Locker Holdings                                    1.80
                                                              
    18 Richoux                                            1.77
                                                              
    19 Pennant International Group                        1.62
                                                              
    20 PSG Solutions                                      1.35
                                                              
Balance held in 12 holdings                               4.65
                                                              
                                                        100.00