Portfolio Update

HG Capital Trust PLC
10 May 2006

HgCapital Trust plc

All information is at 30 April 2006 and unaudited.

Performance at month end with net income reinvested

                                         One month       Three months            One       Three years       Five years
                                                                                year
Net asset value                              -1.3%               3.7%          35.7%            104.3%            66.1%
Share price                                   1.4%              12.3%          39.9%            218.3%           110.6%
FTSE All-Share Index                          1.1%               6.3%          32.9%             81.1%            28.2%


Sources: HgCapital, Standard & Poor's Micropal

At month end

Net asset value:*                             648.94p
Share price:                                  674.50p
Premiun:                                      3.9%
Total assets:                                 £163.4m
Net yield:                                    1.5%
Gearing:                                      Nil%
Ordinary shares in issue:                     25,186,755

* includes 4 months net revenue of 8.15p

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 2005.
Sector                                                          Total Assets
                                                                           %

Technology                                                              33.4
Healthcare                                                              19.0
Industrials                                                             16.6
Leisure                                                                 11.5
Media                                                                    7.9
Other                                                                    1.7
Renewable Energy                                                         1.3
Consumer                                                                 0.8
Fixed Interest                                                           6.1
Net Current Assets                                                       0.1
Cash                                                                     1.6
                                                                       -----

                                                                       100.0

                                                                     -------


Ten Largest Investments
Company                                                         Total Assets Sector
                                                                           %

Xtx                                                                     11.4 Technology
FTSA                                                                     7.7 Media
Paragon                                                                  7.6 Healthcare
Schenck                                                                  5.9 Industrials
Travelsphere                                                             4.3 Leisure
WET Automotive                                                           4.2 Industrials
Addison                                                                  4.2 Technology
Classic Copyright                                                        3.7 Media
Elite                                                                    3.6 Technology
Sporting Index                                                           3.4 Leisure

                                                                      ------
                                                                        56.0

                                                                     -------


10 May 2006


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