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 28 February 2010) at close of business on 31 March 2010
was 23.93p.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              17.12
                                                              
     2 AI Claims                                         13.44
                                                              
     3 Closed Loop London                                 9.44
                                                              
     4 Alliance Pharma                                    8.51
                                                              
     5 Parmenion                                          8.17
                                                              
     6 Tristel                                            6.18
                                                              
     7 Hartest Holdings                                   4.97
                                                              
     8 Belgravium Technologies                            4.21
                                                              
     9 Forest Support                                     3.91
                                                              
    10 CEPS                                               3.88
                                                              
    11 Petards Group                                      3.16
                                                              
    12 MTI Wireless Edge                                  2.65
                                                              
    13 Datong                                             2.42
                                                              
    14 Sanderson Group                                    2.11
                                                              
    15 Pennant International Group                        2.02
                                                              
    16 Northbridge Industrial Services                    1.94
                                                              
    17 LPA Group                                          1.64
                                                              
    18 PSG Solutions                                      1.29
                                                              
    19 Satcom                                             0.88
                                                              
    20 Richoux Group                                      0.78
                                                              
Balance held in 12 holdings                               1.28
                                                              
                                                        100.00


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