Interim Management Statement

Albion Technology & General VCT PLC
                          Interim Management Statement
                                  Introduction
 I am pleased to present Albion Technology & General VCT PLC's (the "Company")
  interim management statement for the period from 1 July 2011 to 18 November
2011 as required by the UK Listing Authority's Disclosure and Transparency Rule
                                      4.3.

Financial Position and dividends
The  Company's unaudited net asset value (NAV), based on management accounts, as
at  30 September 2011 was £33.2  million (30 June  2011: £34.1 million) or 84.0
pence  per  share  (excluding  treasury  shares)  (30  June 2011: 85.4 pence per
share).

The current NAVs and comparative figures are calculated after accounting for the
second  dividend for the year to  31 December 2011 of 2.5 pence per share (total
cost: £990,000) which was paid on 30 September 2011.

After  adding back  the second  dividend for  the financial  year, the net asset
value  has fallen by 1.4 pence  per share or 1.6 per  cent. since 30 June 2011.
This  fall  is  principally  due  to  further financing requirements for Helveta
Limited, Xceleron Limited and Mi-Pay Limited which will be at lower valuations.

As  at 30 September 2011, total cash on deposit,  or short term money market and
other  liquid instruments amounted to approximately £4.0 million (30 June 2011:
£4.7 million).

Portfolio
The  following investments have been  made during the period  from 1 July to 18
November 2011:

+----------------------------------+------+------------------------------------+
|Name                              |£000's|                                    |
+----------------------------------+------+------------------------------------+
|Helveta Limited (further          | 679  |Provides real-time, electronic      |
|investment)                       |      |traceability and verification for   |
|                                  |      |the timber industry.                |
+----------------------------------+------+------------------------------------+
|Regenerco Renewable Energy Limited| 309  |Photo-voltaic installations on small|
|(further investment)              |      |commercial buildings.               |
+----------------------------------+------+------------------------------------+
|Alto Prodotto Wind Limited (new   | 160  |Installs and operates commercial    |
|investment)                       |      |scale wind installations.           |
+----------------------------------+------+------------------------------------+
|Dysis Medical Limited (further    | 146  |Develops imaging systems for the    |
|investment)                       |      |non-invasive, in-vivo detection of  |
|                                  |      |cancerous and pre-cancerous lesions.|
+----------------------------------+------+------------------------------------+
|Rostima Holdings (further         |  79  |Provider of workforce management    |
|investment)                       |      |solutions software.                 |
+----------------------------------+------+------------------------------------+
|Orchard Portman Hospital Limited  |  30  |Hospital near Taunton, Somerset,    |
|(further investment)              |      |offering a nursing home for people  |
|                                  |      |with complex needs.                 |
+----------------------------------+------+------------------------------------+

Disposals
During  the period  from 1 July  2011 to 18 November  2011, the Company sold its
investments  in Evolutions Television Limited, receiving proceeds of £150,000 in
cash  and £79,000 in new loan notes. The loan notes are expected to be repaid in
full by 31 March 2012.
In  addition, during the  quarter, there has  been an uplift  of £170,000 in the
valuation  of Evolutions Group  Limited following the  exchange of contracts for
the sale of its London property in early October 2011 (please see below *).
In  aggregate,  including  interest  received  and  following  the  sale  of the
property,  the Evolutions investment will have made a small profit of 1.15 times
its cost.

Also  during the  period, final  proceeds of  £103,000 were  received from Green
Energy  Property Services Limited, as well  as £54,000 in deferred consideration
relating to the sale of Dexela Limited earlier in the year.

During the period from 1 July 2011 to 18 November 2011, the Company received the
following loan stock repayments:

+----------------------------------------+--------+
| Name                                   | £000's |
+----------------------------------------+--------+
| Radnor House School (Holdings) Limited |   41   |
+----------------------------------------+--------+
| Peakdale Molecular Limited             |   22   |
+----------------------------------------+--------+
| Evolutions Television Limited          |   14   |
+----------------------------------------+--------+
| Tower Bridge Health Clubs Limited      |   6    |
+----------------------------------------+--------+
| CS (Greenwich) Limited                 |   3    |
+----------------------------------------+--------+
Top ten holdings as at 30 September 2011:

+----------------------------------------+----------------+
|               Investment               | Carrying value |
|                                        |     £000's     |
+----------------------------------------+----------------+
| Kensington Health Clubs Limited        |        2,453   |
+----------------------------------------+----------------+
| Radnor House School (Holdings) Limited |        1,968   |
+----------------------------------------+----------------+
| The Charnwood Pub Company Limited      |        1,802   |
+----------------------------------------+----------------+
| Mi-Pay Limited                         |        1,359   |
+----------------------------------------+----------------+
| Bravo Inns II Limited                  |        1,341   |
+----------------------------------------+----------------+
| Evolutions Group Limited               |       1,306*   |
+----------------------------------------+----------------+
| Blackbay Limited                       |        1,258   |
+----------------------------------------+----------------+
| The Weybridge Club Limited             |        1,112   |
+----------------------------------------+----------------+
| Orchard Portman Hospital Limited       |        1,050   |
+----------------------------------------+----------------+
| Taunton Hospital Limited               |          999   |
+----------------------------------------+----------------+

Material Events and Transactions

Dividends
As  mentioned above, a  dividend of 2.5 pence  per share was  paid on 28 October
2011 to shareholders on the register as at 30 September 2011.

Dividend Reinvestment Scheme
The  Company  continues  to  offer  a  Dividend  Reinvestment Scheme to existing
shareholders.    Details   of   this   Scheme   can   be   found   atwww.albion-
ventures.co.uk/Our  Funds/Albion Technology  & General  VCT PLC  in the Circular
issued  to shareholders  on 18 April  2008.  During the period, 105,475 Ordinary
shares  of 50p each in  the capital of  the Company were  allotted on 28 October
2011 at an issue price of 85.4 pence per share representing 8.9 per cent. of the
dividends paid.

Share buy-backs
During  the period from  1 July 2011 to 18 November  2011, the Company purchased
537,000 Ordinary  shares at an average price of 77 pence per share. These shares
will be held in treasury.

Albion VCTs Linked Top Up Offer 2011/2012
On  1 November 2011 the Company  announced the launch  of the Albion VCTs Linked
Top  Up Offer 2011/2012.  In aggregate, the Albion  VCTs will be aiming to raise
up  to £15 million across  seven of the VCTs  managed by Albion Ventures LLP, of
which  Albion Technology &  General VCT PLC's  share will be approximately £2.25
million.   The maximum amount raised  by each of the  Albion VCTs will be 10 per
cent.  of its issued share capital (over  any one 12 month period, and including
any  shares issued under  Dividend Reinvestment Schemes),  being the amount that
they  may issue  under the  Prospectus Rules  without the  publication of a full
prospectus.

The  proceeds of  the Offer  will be  used to  provide further  resources to the
Albion  VCTs at a time when a  number of attractive new investment opportunities
are  being  seen.  An  Investor  Guide  and  Offer  document  have  been sent to
shareholders.

There  have been no further significant events or transactions that the Board is
aware  of which would  have a material  impact on the  financial position of the
Company between 1 July 2011 to 18 November 2011.

Further  information regarding  historic and  current financial  performance and
other  useful shareholder information  can be found  on the Fund's website under
www.albion-ventures.co.uk/Our Funds/Albion Technology & General VCT PLC.

Dr. Neil Cross, Chairman
18 November 2011

For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: [phone]






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Source: Albion Technology & General VCT PLC - Ordinary Shares via Thomson Reuters ONE

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