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 May 2010
was 23.54p.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              16.27
                                                              
     2 AI Claims                                         12.42
                                                              
     3 Closed Loop London                                 9.60
                                                              
     4 Alliance Pharma                                    8.78
                                                              
     5 Parmenion                                          8.31
                                                              
     6 Hartest Holdings                                   6.31
                                                              
     7 Tristel                                            5.71
                                                              
     8 CEPS                                               5.18
                                                              
     9 Petards Group                                      4.14
                                                              
    10 Forest Support                                     3.97
                                                              
    11 Belgravium Technologies                            3.57
                                                              
    12 MTI Wireless Technologies                          2.20
                                                              
    13 Datong                                             2.17
                                                              
    14 LPA Group                                          1.94
                                                              
    15 Sanderson Group                                    1.80
                                                              
    16 Northbridge Industrial Services                    1.78
                                                              
    17 Pennant International Group                        1.59
                                                              
    18 PSG Solutions                                      1.26
                                                              
    19 Satcom                                             0.90
                                                              
    20 Richoux                                            0.79
                                                              
Balance held in 12 holdings                               1.31
                                                              
                                                        100.00