Portfolio Update

CHELVERTON GROWTH TRUST PLC

In accordance with UKLA Listing Rule 15.4.11(2), the following list represents
the Company's 10 largest investments as at 30 November 2006 and where
appropriate, any investment with a value greater than 5% of the Company's gross
assets:

Name of company                   Class of share
                                                
365 Media Group                   Ordinary      
                                                
AI Claims                         Ordinary      
                                                
BBI Holdings                      Ordinary      
                                                
Belgravium Technology             Ordinary      
                                                
Clipper Ventures                  Ordinary      
                                                
Food & Drink Group                Ordinary      
                                                
Mavinwood                         Ordinary      
                                                
Oasis Healthcare                  Ordinary      
                                                
Smallbone                         Ordinary      
                                                
Stanley Gibbons Group             Ordinary