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 28 February 2006 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       
                                                
Belgravium Technology            Ordinary       
                                                
Clipper Ventures                 Ordinary       
                                                
Conder Environmental             Ordinary       
                                                
IDOX                             Ordinary       
                                                
Mavinwood                        Ordinary       
                                                
Petards Group                    Ordinary       
                                                
Smallbone                        Ordinary       
                                                
Tristel                          Ordinary       
                                                
UKbetting                        Ordinary