Interim Management Statement

Close Brothers Aim Vct PLC
11 December 2007


            Close Brothers AIM VCT PLC Interim Management Statement

Introduction

I am pleased to present your Company's second interim management statement for
the period from 1st September to the 11th December 2007 as required by the UK
Listing Authority's Disclosure and Transparency Rule 4.3.

Performance

You will not need me to remind you that these months have seen a rise in risk
aversion amongst investors, increased share price volatility and growing
concerns about global and UK economic growth in the wake of significant problems
erupting in the financial sector. In such circumstances, investing for growth
has ceased to be an objective for very many investors, smaller company shares
have been treated as even more risky and share prices have been substantially
derated and marked down.

Your Company has, not surprisingly, seen its Net Asset Value ('NAV') in the
Ordinary share portfolio fall over the period to 65.73 pence per share
(unaudited) as at 5 December 2007. This compares with 79.52 pence per share
(unaudited) reported in the Half-yearly Financial Report as at 31 August 2007.
The 5th December NAV has been struck after allowing for a 2.5p per share
dividend payment.

The NAV in the D share portfolio fell over the period to 116.52 pence per share
(unaudited) as at 5 December 2007 compared to 126.19 pence per share (unaudited)
as reported in the Half-yearly Financial Report to 31 August 2007. The 5th
December NAV has been struck after allowing for a 2.5p per share dividend
payment.

Portfolios

Your Company's Investment Manager has continued to make investments in the
period to 11 December 2007. A total of £0.3m has been invested by the Ordinary
portfolio which has also realised £0.8m from share sales. The D share portfolio
has invested £1.5m and raised £0.4m from disposals. As at 30 November 2007 the
Ordinary and D share portfolio were 90% and 72% invested in qualifying
investments respectively.

The qualifying levels are in excess of the minimum 70% level required by HMRC
regulations and which the D share portfolio has to reach by the end of February
2008.

Top Ten Qualifying Holdings

Ordinary Portfolio at 5th December 2007                        Market Value
                                                                  £'000

Tanfield Group PLC                                                1,023
Bond International Software PLC                                    977
Mears Group PLC                                                    766
Zetar PLC                                                          686
Pilat Media Global PLC                                             682
Mattioli Woods PLC                                                 673
Pipex PLC                                                          672
Claimar Care Group PLC                                             669
Cello Group PLC                                                    607
Neuropharm Group PLC                                               576


D Portfolio at 5th December 2007                              Market Value
                                                                  £'000

Claimar Care Group PLC                                             902
Tanfield Group PLC                                                 867
Mattioli Woods PLC                                                 673
Neuropharm Group PLC                                               576
IDOX PLC                                                           555
Melorio PLC                                                        539
Clerkenwell Ventures PLC                                           478
Zetar PLC                                                          429
Work Group PLC                                                     428
Research Now PLC                                                   409


All of the top ten qualifying holdings are quoted and valued at bid price as at
5th December 2007.

Dividends

In the Half-yearly Financial Report the Board declared a dividend of 2.5 pence
to all Ordinary shareholders and 2.5 pence to all D shareholders. These
dividends will be paid on 28 December 2007 to shareholders on the register on 30
November 2007.

Share buybacks

During the period to 11 December, the company repurchased 446,730 Ordinary
shares for treasury at an average price of 68 pence per share.  There were no D
share buybacks in the period.

Your Company will continue to remain invested so as to maintain its VCT status
and your Investment Manager believes that it can continue to make sound
investments in growth companies at attractive valuations. Part of the reasoning
for this view is that there are now fewer investors seeking to invest in growing
AIM companies, but there remains a steady flow of companies raising capital on
AIM.

Though there may be difficulties ahead for small company share prices in the
short term and therefore for your Company's NAV, it still remains the case that
well managed smaller companies can grow and will do so in the longer term.


11 December 2007

For further information please contact Andrew Buchanan/Kate Tidbury of Close
Investments Limited

Tel: [phone]


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