Statement re: largest holdings

CHELVERTON GROWTH TRUST PLC (the 'Company')

In accordance with UKLA Listing Rule 21.20(l)(ii), the following list
represents the Company's 10 largest investments as at 29 February 2004 and
where appropriate, any investment with a value greater than 5% of the Company's
gross assets:

Name of company                  Class of     
                                 share        
                                              
Auto Indemnity Group             Ordinary     
                                              
Bioquell                         Ordinary     
                                              
Hartford Group                   Ordinary     
                                              
I-Documentsystems Group          Ordinary     
                                              
Locker Holdings                  Ordinary     
                                              
Merrydown                        Ordinary     
                                              
Oasis Healthcare                 Ordinary     
                                              
Stanley Gibbons                  Ordinary     
                                              
Transport Systems                Ordinary     
                                              
UKBetting                        Ordinary     

02.03.04