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 31 August 2009) at close of business on 26 February
2010 was 22.70p.

TOP 20 HOLDINGS

       Name of company                     % of portfolio     
                                                              
     1 IDOX                                              15.71
                                                              
     2 AI Claims                                         12.25
                                                              
     3 Closed Loop London                                 9.96
                                                              
     4 Parmenion                                          8.62
                                                              
     5 Alliance Pharma                                    8.09
                                                              
     6 Tristel                                            5.69
                                                              
     7 Hartest Holdings                                   4.74
                                                              
     8 Forest Support                                     4.12
                                                              
     9 CEPS                                               4.09
                                                              
    10 Belgravium Technologies                            4.08
                                                              
    11 Petards Group                                      3.85
                                                              
    12 Datong                                             2.90
                                                              
    13 MTI Wireless Edge                                  2.28
                                                              
    14 Northbridge Industrial Services                    2.03
                                                              
    15 LPA Group                                          2.02
                                                              
    16 Satcom                                             2.01
                                                              
    17 Pennant International Group                        1.94
                                                              
    18 Sanderson Group                                    1.78
                                                              
    19 PSG Solutions                                      1.36
                                                              
    20 Richoux Group                                      0.99
                                                              
Balance held in 12 holdings                               1.49
                                                              
                                                        100.00


  ND