Portfolio Update

CHELVERTON GROWTH TRUST PLC (the "Company")

In accordance with UKLA Listing Rule 15.4.11(2), the following list represents
the Company's 10 largest investments as at 28th February 2007 and where
appropriate, any investment with a value greater than 5% of the Company's gross
assets:

Name of company                   Class of share
                                                
AI Claims                         Ordinary      
                                                
BBI Holdings                      Ordinary      
                                                
Belgravium Technology             Ordinary      
                                                
CEPS                              Ordinary      
                                                
Food & Drink Group                Ordinary      
                                                
IDOX                              Ordinary      
                                                
Oasis Healthcare                  Ordinary      
                                                
Petards Group                     Ordinary      
                                                
Smallbone                         Ordinary      
                                                
Stanley Gibbons Group             Ordinary