Interim Management Statement

ProVen Growth & Income VCT plc
Interim Management Statement
for the three months ended 31 May 2010

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing Authority, ProVen Growth & Income VCT plc presents an Interim Management
Statement  for  the  three  month  period  ended 31 May 2010. The statement also
includes  relevant financial information  between the end  of the period and the
date of this statement.

Dividends declared in the period
There  were no dividends paid or declared in the period or in the period from 1
March 2010 to the date of this announcement.

Performance
Ordinary Shares of 1.6187p ("New Ordinary Shares")
                           31 May   28 Feb   30 Nov
                             2010     2010     2009

                            Pence    Pence    Pence

 Net Asset Value ("NAV")     72.8     74.1     75.1


'D' Shares
                           31 May   28 Feb   30 Nov
                             2010     2010     2009

                            Pence    Pence    Pence

 Net Asset Value ("NAV")     92.5     92.3     93.0


Quoted  investments are valued at the closing bid price at 31 May 2010. Unquoted
investments  are  valued  at  fair  values  established  using the International
Private Equity and Venture Capital Valuation Guidelines.

Investment portfolio summary at 31 May 2010

New Ordinary Share Portfolio investments by value
                                          Valuation

                                              £'000

 Venture capital investments

 Espresso Group Limited                       2,382

 Fjordnet Limited                             2,239

 Charterhouse Leisure Limited                 1,236

 Eagle Rock Entertainment Group Limited       1,063

 Overtis Group Limited                        1,017

 Lazurite Limited                               962

 Prelude Media Limited                          959

 Donatantonio Limited                           953

 Chess Technologies Limited                     952

 Saffron Media Group Limited                    858

 Other investments                            2,623
                                        ------------
                                             15,244

 Cash at bank and other liquid funds          2,880
                                        ------------
 Total                                       18,124


'D' Share Portfolio investments by value
                                       Valuation

                                           £'000

 Venture capital investments

 Tossed Limited                              504



 Cash at bank and other liquid funds       7,052
                                     ------------
 Total                                     7,556



Investment activity during the three month period ended 31 May 2010

New Ordinary Share Portfolio Investment addition
                       £'000



 Steak Media Limited     246
                     --------
                         246


'D' Share Portfolio Investment addition
                  £'000



 Tossed Limited     504
                --------
                    504



New Ordinary Share Portfolio Investment disposal
                        Market value       Disposal  Loss against Total realised
                   Cost   at 1 March       proceeds          cost      gain/loss
                  £'000           10          £'000         £'000          £'000
                               £'000

The Vending                                                                    -
Corporation       1,012            -              -       (1,012)
                 ---------------------------------------------------------------
                  1,012            -              -       (1,012)              -


There were no 'D' Share portfolio investment disposals in the three month period
ended 31 May 2010.

Investment activity from 1 June 2010 to the date of this report

New Ordinary Share Portfolio Investment addition
                         £'000

 Overtis Group Limited     243
                       --------
                           243


There  have been no other investment  additions or disposals from 1 June 2010 to
the date of this announcement.

Changes to share capital
                                                    New Ordinary      'D' Shares
                                                          Shares

                                                   Shares  £'000    Shares £'000

As at 1 March 2010                             23,684,352    383 5,525,501    55

 Shares issued during 3 months to 31 May 2010     926,893     15 2,628,816    26

 Shares bought back during 3 months to 31 May                     (55,698)     -
2010                                              (6,464)      -
                                              ----------------------------------
As at 31 May 2010                              24,604,781    398 8,098,619    81


Material events
Other than described above, there were no material events during the period from
1 March 2010 to 31 May 2010 or in the period from 1 June 2010 to the date of
this announcement.


[HUG#1432303]








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Source: Proven Growth & Income VCT plc via Thomson Reuters ONE