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) at close of business on 30 April 2009 was 19.16p.

Bank overdraft as at 30 April 2009 was £279,207.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              18.46
                                                              
     2 Closed Loop London                                11.31
                                                              
     3 A1 Claims                                         10.45
                                                              
     4 Belgravium Technologies                            7.13
                                                              
     5 Tristel                                            5.70
                                                              
     6 Newmark Security                                   4.37
                                                              
     7 Petards Group                                      3.96
                                                              
     8 Forest Support                                     3.39
                                                              
     9 Parmenion                                          3.17
                                                              
    10 LPA Group                                          3.08
                                                              
    11 Alliance Pharma                                    3.01
                                                              
    12 CEPS                                               2.58
                                                              
    13 MTI Wireless Edge                                  2.55
                                                              
    14 AT Communications                                  2.47
                                                              
    15 Northbridge Industrial Services                    2.38
                                                              
    16 Hartest Holdings                                   1.94
                                                              
    17 Satcom                                             1.65
                                                              
    18 Locker Holdings                                    1.61
                                                              
    19 Minorplanet Systems                                1.58
                                                              
    20 Datong                                             1.46
                                                              
Balance held in 15 holdings                               7.75
                                                              
                                                        100.00