Interim Management Statement

The AIM Distribution Trust plc
Interim Management Statement
for the three months ended 31 December 2009

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing Authority, The AIM Distribution Trust plc presents an Interim Management
Statement for the three month period ended 31 December 2009.  The statement also
includes  relevant financial information  between the end  of the period and the
date of this statement.

Dividends paid or declared in the period
On  30 November 2009, the Board declared an  interim dividend of 1.75p per share
which was paid to Shareholders on 18 December 2009.

Performance

                                          31 Dec    30 Sept   31 Mar
                                             2009      2009      2009

                                            Pence     Pence     Pence

  Net Asset Value ("NAV")                   36.50     39.50     33.60

  Cumulative dividends since launch         57.55     55.80     55.80

  Total Return *                            94.05     95.30     89.40

* (NAV plus cumulative dividends paid since launch)

Investment portfolio summary at 31 December 2009

                                                                     Valuation

                                                                      movement
                                                                          since
                                                                        30 Sept
                                                    Cost  Valuation      2009 *

                                                    £'000      £'000      £'000

 Ten largest investments by value

 ANS Group plc                      Listed on Plus    201        483       (28)

 Connaught plc                      Full list          27        390       (53)

 Doubletake Portraits Limited       Unquoted          250        358          -

 Cadbury House Holdings Limited     Unquoted          319        319          -

 Printing.com plc                                     178        254         14

 Spice plc                          Full list         256        219       (77)

 Supporta plc                                         250        211        106

 Atlantic Global plc                                  310        186       (12)

 Hoole Hall Spa and Leisure Limited Unquoted          120        120          -

 Deltex Medical Group plc                             233        107         18



 Other venture capital investments                  5,557        681        (4)

 Listed fixed income securities                       558        294          7

 Other investments                                    403        467         28



 Total                                              8,662      4,089        (1)


All investments are quoted on AIM unless otherwise stated.
* After accounting for purchases in period

Investment additions during the 3 months ended 31 December 2009

                                       Cost

                                      £'000



  Cadbury House Holdings Limited **     319

  Tristel plc                            38
                                    ---------
                                        357


**  During the period,  the Company invested  £319,000 in Cadbury House Holdings
Limited,  which  comprised  reinvestment  of  the  proceeds of the disposal from
Cadbury House Limited of £319,000.

After the period end, the Company acquired shares in Mears Group plc following a
share for share takeover of Supporta plc.

Investment disposals during the 3 months ended 31 December 2009

                               Market                            Total
                             value at            Gains/(loss) realised
                              1 April  Disposal     in period    gain/
                        Cost   2009 *  proceeds against cost    (loss)

                       £'000    £'000     £'000         £'000    £'000

 Cadbury House Limited   319      319       319             -        -

 Connaught plc             3       31        38            35        7

 The Medical House plc   171       44        90          (81)       46

 Waterline plc           243        5        64         (179)       59
                      -------------------------------------------------
                         736      399       511         (225)      112


* Adjusted for purchases since 1 April 2009.

In  addition to the share for share takeover of Supporta, noted above, since the
period  end the Company has  also disposed of its  holdings in Cellcast plc, The
Real  Good Food  Company plc,  and a  partial holdings  in the Bluecrest Allblue
Fund, with proceeds thereon received of £89,000.

Changes to share capital

                                     Ordinary Shares of
                                          25p each

                                         Shares    £'000

  As at 1 October 2009               13,140,436    3,285

  Shares bought back and cancelled            -        -
                                   -----------------------
  As at 31 December 2009             13,140,436    3,285


There have been no shares bought back for cancellation since the period end.

Merger discussions
On 30 November 2009, the Company announced that it is in merger discussions with
Pennine AIM VCT 5 plc and Pennine AIM VCT 6 plc and that any merger is expected
to  be  by  way  of  a  "scheme  of reconstruction" pursuant to  S.110 of  the
Insolvency  Act 1986.  Merger discussions are ongoing.

Material events
Other than described above, there were no material events during the period from
1 October  2009 to 31 December 2009 or in the  period from 1 January 2010 to the
date of this announcement.


[HUG#1386403]