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 31 August 2007 and where appropriate
and indicated with an asterisk, any investment with a value greater than 5% of
the Company's gross assets:

Name of company                          Class of share
                                                       
IDOX *                                   Ordinary      
                                                       
AI Claims *                              Ordinary      
                                                       
Belgravium Technology *                  Ordinary      
                                                       
Food & Drink Group *                     Ordinary      
                                                       
Smallbone                                Ordinary      
                                                       
BBI Holdings                             Ordinary      
                                                       
CEPS                                     Ordinary      
                                                       
Northbridge Industrial                   Ordinary      
                                                       
AT Communications                        Ordinary      
                                                       
MTI Wireless Edge                        Ordinary