Net Asset Value

Graphite Enterprise Trust PLC
03 May 2007



                         ANNOUNCEMENT TO STOCK EXCHANGE



                         GRAPHITE ENTERPRISE TRUST PLC



                                   3 May 2007





The Board of Graphite Enterprise Trust PLC announces that the net asset value
per share as at 31 March 2007 was 465.6p, after the accrual of the dividend
announced on 15 March 2007 of 6.5p per share.  This represents an increase in
net asset value per share of 2.4% in the three months to 31 March 2007 and
compares with a rise of 1.9% in the FTSE All-Share Index in the quarter.




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