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 May 2010) at close of business on 31 August 2010
was 25.45p.

TOP 20 HOLDINGS

           Name of company                      % of portfolio         
                                                            
                                                                
     1     IDOX                                         16.25   
                                                                
     2     AI Claims                                    13.04   
                                                                
     3     Alliance Pharma                               9.39   
                                                                
     4     Closed Loop London                            9.16   
                                                                
     5     Hartest Holdings                              8.15   
                                                                
     6     Parmenion                                     7.93   
                                                                
     7     Tristel                                       5.12   
                                                                
     8     Forest Support                                4.96   
                                                                
     9     CEPS                                          4.78   
                                                                
    10     Belgravium Technologies                       3.07   
                                                                
    11     Northbridge Industrial                        2.32   
           Services                                             
                                                                
    12     MTI Wireless Edge                             2.29   
                                                                
    13     Datong                                        2.07   
                                                                
    14     LPA Group                                     1.99   
                                                                
    15     Titan Europe                                  1.85   
                                                                
    16     Sanderson Group                               1.80   
                                                                
    17     Pennant International Group                   1.60   
                                                                
    18     PSG Solutions                                 1.20   
                                                                
    19     Richoux Group                                 0.91   
                                                                
    20     Satcom                                        0.85   
                                                                
    Balance held in 12 holdings                          1.27

                                                       
                                                                
                                                       100.00