Net Asset Value(s)

Elderstreet VCT PLC
14 February 2006

Elderstreet VCT plc
14 February 2006

Elderstreet VCT plc announces that its unaudited Net Asset Value per share at 31
December 2005 (before provision for any year end dividends that may be proposed)
was as follows:

Ordinary Shares       65.1p per share.
'C' Shares            94.1p per share

The Company's summarised unaudited balance sheet at 31 December 2005 is as
follows:
                                              £'000
Fixed Assets                                   9,248
Net current assets                             1,384
Net assets                                    10,632

Capital and reserves
Called up share capital                          782
Capital redemption reserve                        52
Share premium                                  1,388
Special reserve                                6,401
Capital reserve - realised                     1,658
Capital reserve - unrealised                     237
Revenue reserve                                  114
Equity shareholder's funds                    10,632

The Company's unaudited investment portfolio at 31 December 2005 (unaudited) is
summarised as follows:
                                                                                Cost   Valuation        % of
                                                                               £'000       £'000   portfolio
                                                                                                    by value
ORDINARY SHARE POOL
Top ten venture capital investments
Computer Software Group plc*                         Software company          1,186       1,549       16.9%
Wessex Advanced Switching Products Limited           Manufacturer                 51       1,176       12.9%
Snacktime Limited                                    Vending machines            700         700        7.6%
The National Solicitors' Network Limited             Solicitors network          901         650        7.1%
Fords Packaging Systems Limited                      Manufacturer                 83         583        6.4%
European Telecommunications and Technology plc       Telecom services            450         558        6.1%
Oldbury Aluminium Alloys Group Limited               Aluminium recycler          450         450        4.9%
Smart Education Limited                              Recruitment agency          390         390        4.3%
U M (Holdings) Plc                                   Plant hire                   54         350        3.8%
Mediasurface plc*                                    Software developer          374         313        3.4%
                                                                               4,639       6,719       73.4%
Other venture capital investments                                              3,048       1,234       13.6%
Total venture capital investments                                              7,687       7,953       87.0%

Listed fixed income securities                                                 1,027       1,029       11.2%

Net current assets (including cash)                                                          199        2.2%

Total investments                                                                          9,181      100.0%

'C' SHARE POOL
Venture capital investments
Oldbury Aluminium Alloys Group Limited               Aluminium recycler          100         100        6.9%
Smart Education Limited                              Recruitment agency           97          97        6.7%
Interquest Group plc*                                Recruitment agency          100          69        4.7%
                                                                                 297         266       18.3%

Net current assets (including cash)                                                        1,186       81.7%
Total investments                                                                          1,452      100.0%

All venture capital investments are unquoted unless otherwise stated

*  Quoted on the Alternative Investment Market ('AIM')




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