Transaction in Own Shares

CHELVERTON GROWTH TRUST PLC                          

                              Ordinary 1p shares                               

The Company announces that on 3 June 2005 it purchased in the market, for
cancellation, 3,000 Ordinary 1p Shares at a price of 32.5p per share.

The purchase will reduce the number of Ordinary 1p Shares in issue to
18,147,939.

3 June 2005