Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 31 March 2011

Foresight  VCT plc  presents its  interim management  statement for  the quarter
ended  31 March 2011.  This  constitutes the  company's first interim management
statement  for the financial year ending 31 December 2011, as required by the UK
Listing Authority's Disclosure and Transparency Rule 4.3.

The  unaudited net asset value (NAV) per  Ordinary Share as at 31 March 2011 was
101.2p following the reconstruction of the ordinary share capital detailed below
(31 December 2010: 55.5p).  The unaudited net asset value (NAV) per Planned Exit
Share as at 31 March 2011 was 96.4p (31 December 2010: 95.5p).  The Board is not
aware  of any significant events or transactions between the date of the NAV and
the date of publication of this Interim Management Statement.

The number of Ordinary Shares in issue at 31 March 2011 was 29,941,281 following
a  reconstruction  of  the  ordinary  share  capital on 1 March 2011.  The total
number  of Ordinary Shares in issue  prior to the reconstruction was 54,004,889
(including  6,463,504 Ordinary  shares  issued  as  a  result of the merger with
Keydata 1 VCT plc and Keydata 2 VCT plc on 28 February 2011) and the NAV of each
Ordinary Share was 55.44p. The reconstruction resulted in Ordinary Shareholders'
holdings being adjusted by a ratio of 0.554417986 per Ordinary Share held at the
close  of business on  1 March 2011 resulting in  29,941,281 new Ordinary Shares
being issued.

The  number of  Planned Exit  Shares in  issue at  31 March 2011 was 6,179,833.
 During  the  three  months  ended  31 March  2011 no  shares were issued or re-
purchased by the company for cancellation.

Net assets of the Ordinary Shares fund at 31 March 2011 comprised the following:
+-------------------------------------------------------+------+---------------+
|                                                       |£'000 |% of Net Assets|
+-------------------------------------------------------+------+---------------+
|Unquoted Investments at fair value as determined by the|      |               |
|Directors                                              |23,443|           77.4|
+-------------------------------------------------------+------+---------------+
|Quoted investments at bid price                        | 5,310|           17.5|
+-------------------------------------------------------+------+---------------+
|Total venture capital investments                      |28,753|           94.9|
+-------------------------------------------------------+------+---------------+
|Net Current Assets                                     | 1,549|            5.1|
+-------------------------------------------------------+------+---------------+
|                                                       |      |               |
|Net Assets                                             |30,302|          100.0|
+-------------------------------------------------------+------+---------------+


Net  assets  of  the  Planned  Exit  Shares  fund at 31 March 2011 comprised the
following:
+--------------------------------------------------------+-----+---------------+
|                                                        |£'000|% of Net Assets|
+--------------------------------------------------------+-----+---------------+
|Unquoted  Investments at fair value as determined by the|     |               |
|Directors                                               |3.777|           63.4|
+--------------------------------------------------------+-----+---------------+
|Quoted investments at bid price                         |    0|            0.0|
+--------------------------------------------------------+-----+---------------+
|Total venture capital investments                       |3,777|           63.4|
+--------------------------------------------------------+-----+---------------+
|Net Current Assets                                      |2,181|           36.6|
+--------------------------------------------------------+-----+---------------+
|                                                        |     |               |
|Net Assets                                              |5,958|          100.0|
+--------------------------------------------------------+-----+---------------+

Quoted  investments  are  carried  at  bid  price  as  at 31 March 2011 with the
exception of SmartFOCUS. An offer was received at 25.0p per share in April 2011
and as a result the investment has been valued at the offer price; the offer has
subsequently  been  approved  by  the  Shareholders  of  SmartFOCUS at a General
Meeting of the company. Unquoted investments are carried at fair value as at 31
March 2011 as determined by the directors.

During the three months ended 31 March 2011 the following significant investment
transactions   took   place  (all  companies  unquoted  except  where  otherwise
indicated):


Ordinary Shares Portfolio

Follow-on investments:

+-----------------+-----------------------------------+-----------------------+
| Name of Company | Business Activity                 | Amount Invested £'000 |
+-----------------+-----------------------------------+-----------------------+
| Land Energy     | Wood pellet manufacturing         | 48                    |
+-----------------+-----------------------------------+-----------------------+
| Silvigen        | Integrated biomass fuel solutions | 33                    |
+-----------------+-----------------------------------+-----------------------+
| SkillsMarket    | Recruitment software              | 13                    |
+-----------------+-----------------------------------+-----------------------+

Investment disposals / loan repayments:

+---------------+---------------------------------------+-------------+--------+
|Name of Company|Business Activity                      |Original Cost|Proceeds|
|               |                                       |£'000        |        |
|               |                                       |             |£'000   |
+---------------+---------------------------------------+-------------+--------+
|Ffastfill      |Software    services    for   financial|517          |415     |
|               |services sector                        |             |        |
+---------------+---------------------------------------+-------------+--------+
|AppDNA         |Application migration software         |83           |83      |
+---------------+---------------------------------------+-------------+--------+
|Camwood        |Application migration consulting       |83           |83      |
+---------------+---------------------------------------+-------------+--------+
|Trilogy        |Broadcast and defence communications   |63           |63      |
+---------------+---------------------------------------+-------------+--------+


Planned Exit Shares Portfolio

New investments:

None

Investment disposals:

None

For further information please contact:

Gary Fraser, Foresight Group:                        01732 471 800







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Source: Foresight VCT PLC via Thomson Reuters ONE

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