Performance at month end

HgCapital Trust plc

All information is at 31 October 2010 and unaudited.

Performance at month end with net income reinvested

                      One      Three     One   Three      Five       Ten 
                    month     months    year   years     years     years    
                                                                         
Net asset value     -0.2%       1.7%   10.7%    22.0%     86.3%    181.4%
                                                                         
Share price         10.4%      18.7%   14.4%    24.0%     81.7%    260.7%
                                                                         
FTSE All-Share       2.5%       9.0%   17.5%    -4.8%     31.6%     20.8%
Index                                                                    

Sources: HgCapital, Standard & Poor's Micropal

At month end

Net asset value per share:*                                                  
                                                                             
Basic                                                                  957.8p
                                                                             
Diluted                                                                956.5p
                                                                             
Share price ordinary shares:                                           941.0p
                                                                             
Ordinary share price discount to NAV                                     1.8%
(basic):                                                                     
                                                                             
Ordinary share price discount to NAV                                     1.6%
(diluted):                                                                   
                                                                             
Share price subscription shares:                                        86.5p
                                                                             
Total net assets:                                                     £297.9m
                                                                             
Net yield:                                                               2.7%
                                                                             
Gearing:                                                                 Nil%
                                                                             
Ordinary shares in issue:                                          31,103,915
                                                                             
Subscription shares in issue:                                       6,220,783
                                                                             
* includes 10 months net revenue of 18.2p                                    

Following the partial realisation of Visma (expected to be completed in
November 2010), the NAV is estimated to be £317.3 million (1,020.3 pence per
share basic; 1,008.6 pence per share diluted). The ordinary share price is
trading at a 7.8% discount to the adjusted NAV of 1,020.3 pence per share; 6.7%
discount to the adjusted diluted NAV of 1,008.6 pence per share.

The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.

Unquoted investments were last revalued at 30 June 2010.

Sector                                                           Total Assets
                                                                             
                                                                            %
                                                                             
Technology & Media                                                       38.8
                                                                             
Healthcare                                                               18.4
                                                                             
Industrials                                                              11.8
                                                                             
Services                                                                  5.6
                                                                             
Renewable Energy                                                          4.9
                                                                             
Consumer & Leisure                                                        4.8
                                                                             
Other                                                                     8.7
                                                                             
Cash and other liquid assets*                                             7.0
                                                                             
                                                                        100.0

* Cash and other liquid assets are stated before the investment in ATC,
scheduled to complete in December 2010, and the partial realisation of Visma.
After completion, cash and other liquid assets will be 15.8% of total net
assets.

Ten Largest Investments

Company                           Total Assets Sector                          
                                                                               
                                             %                                 
                                                                               
VISMA                                     14.1 Technology & Media              
                                                                               
TeamSystem                                 8.6 Technology & Media              
                                                                               
Pulse Staffing                             7.4 Healthcare                      
                                                                               
Stepstone Solutions                        6.5 Technology & Media              
                                                                               
Frosunda                                   5.1 Healthcare                      
                                                                               
HG Renewable Energy (Fund 1)               4.6 Renewable Energy                
                                                                               
JLA                                        4.5 Services                        
                                                                               
Mondo Minerals Co-op                       3.8 Industrials                     
                                                                               
Manx Telecom                               3.7 Technology & Media              
                                                                               
SimonsVoss                                 3.5 Industrials                     
                                                                               
                                          61.8                                 
                                                                               

05 November 2010