Performance at Month End

HG Capital Trust PLC
12 June 2003

HgCapital Trust plc

All information is at 30 May 2003 and unaudited.

Performance at month end with net income reinvested

                                         One month       Three months            One       Three years       Five years
                                                                                year

Net asset value                               1.9%               2.3%          -6.3%             -1.6%            34.8%

Share price                                  13.0%              21.8%         -15.2%             -3.5%            20.6%

FTSE All-Share Index                          4.4%              13.5%         -17.6%            -28.7%           -19.1%


Sources: Merrill Lynch Investment Managers, Standard & Poor's Micropal

At month end

Net asset value:*                             344.28p

Share price:                                  256.50p

Discount:                                     25.5%

Total assets:                                 £86.4m

Net yield:                                    3.12%

Gearing:                                      Nil

Ordinary shares in issue:                     25,186,755

* includes current year net revenue of 1.44p.

The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.

Unquoted investments were last revalued at 31 December 2002.

UK Sector                                             Total Assets
                                                                 %

Healthcare                                                    16.6

Information Technology                                        15.6

Electronics                                                   13.4

Overseas Venture Funds                                        12.7

Pharmaceuticals                                               10.5

Hotels & Leisure                                               7.7

Support Services                                               4.4

Media                                                          4.3

Other                                                          0.3

Fixed Interest                                                 8.3

Net Current Assets                                             6.1

Cash                                                           0.1

                                                             100.0


Ten Largest Investments Company
                                                       Total Assets Sector

                                                                  %

Raymarine                                                      13.4 Electronics

FTE Automotive                                                  8.8 Overseas Funds

Alizyme                                                         5.4 Pharmaceuticals

Pharma Bio-Research                                             5.1 Healthcare

Match Holdings                                                  4.7 Healthcare

Travelsphere                                                    4.7 Hotels & Leisure

Castlebeck                                                      4.3 Healthcare

Eagle Rock Entertainment                                        4.3 Media

Acuid                                                           3.9 Information Technology

Tunstall                                                        3.4 Healthcare

                                                               58.0


12 June 2003


                      This information is provided by RNS
            The company news service from the London Stock Exchange