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 29 May 2009 was 20.15p.

Bank overdraft as at 29 May 2009 was £279,207.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              20.89
                                                              
     2 Closed Loop London                                11.26
                                                              
     3 AI Claims                                         10.40
                                                              
     4 Tristel                                            6.38
                                                              
     5 Belgravium Technologies                            6.31
                                                              
     6 Forest Support                                     4.05
                                                              
     7 Alliance Pharma                                    4.02
                                                              
     8 Petards Group                                      3.94
                                                              
     9 CEPS                                               3.35
                                                              
    10 Parmenion                                          3.15
                                                              
    11 LPA Group                                          3.06
                                                              
    12 Hartest Holdings                                   2.25
                                                              
    13 Northbridge Industrial Services                    2.13
                                                              
    14 MTI Wireless Edge                                  2.10
                                                              
    15 AT Communications                                  2.05
                                                              
    16 Datong                                             1.77
                                                              
    17 PSG Solutions                                      1.70
                                                              
    18 Pennant International Group                        1.65
                                                              
    19 Satcom                                             1.65
                                                              
    20 Locker Holdings                                    1.60
                                                              
Balance held in 14 holdings                               6.28
                                                              
                                                        100.00