Interim Management Statement

ProVen Growth & Income VCT plc
Interim Management Statement
for the two months ended 31 October 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  two month  period ended  31 October 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
November 2010 to the date of this announcement.

Performance
Ordinary Shares
                           31 Oct   31 Aug   31 May   28 Feb
                             2010     2010     2010     2010

                            Pence    Pence    Pence    Pence

 Net Asset Value ("NAV")     75.8     71.3     72.8     74.1


'D' Shares
                           31 Oct   31 Aug   31 May   28 Feb
                             2010     2010     2010     2010

                            Pence    Pence    Pence    Pence

 Net Asset Value ("NAV")     91.7     91.9     92.5     92.3


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

Investment portfolio summary at 31 October 2010

Ordinary Share Portfolio investments by value
                                          Valuation

                                              £'000

 Venture capital investments

 Espresso Group Limited                       2,381

 Fjordnet Limited                             2,044

 Saffron Media Group Limited                  1,887

 Donatantonio Limited                         1,293

 Charterhouse Leisure Limited                 1,235

 Lazurite Limited                               946

 Prelude Media Limited                          941

 Overtis Group Limited                          847

 Eagle Rock Entertainment Group Limited         776

 SPC International Limited                      685

 Other investments                            2,450
                                        ------------
                                             15,485

 Cash at bank and other liquid funds          3,113
                                        ------------
 Total                                       18,598


'D' Share Portfolio investments by value
                                       Valuation

                                           £'000

 Venture capital investments

 Tossed Limited                              504

 Speed -Trap Holdings Limited                295

 Monica Vinader Limited                      138

 Senselogix Limited                           69
                                     ------------
                                           1,006

 Cash at bank and other liquid funds       6,571
                                     ------------
 Total                                     7,577

Investment activity during the two month period ended 31 October 2010

There  were no  Ordinary Share  portfolio investment  additions in the two month
period ended 31 October 2010.

'D' Share Portfolio Investment addition
                               £'000



 Speed-Trap Holdings Limited     295

 Monica Vinader Limited          138

 Senselogix Limited               69
                             --------
                                 502


Ordinary Share Portfolio Investment disposal
                                                              Gain      Realised
                                   Market value  Disposal  against  gain/loss in
                           Cost  at 1 Sept 2010  proceeds     cost        period

                          £'000           £'000     £'000    £'000         £'000

Ashford Colour Press                                                           -
Limited                      69              69        69        -

Sports Holding Limited       12              12        12        -             -
                         -------------------------------------------------------
                             81              81        81        -             -


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

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

Ordinary Share Portfolio Investment addition
                       £'000

 Breeze Tech Limited      22
                     --------
                          22


'D' Share Portfolio Investment addition
                    £'000

 Fjordnet Limited     276
                  --------
                      276


There have been no investment disposals from 1 November 2010 to the date of this
announcement.

Changes to share capital
                                                 Ordinary Shares      'D' Shares

                                                    Shares £'000    Shares £'000

As at 1 September 2010                          24,385,360   395 8,218,712    82

Shares issued during 2 months to 31 October                         51,199     1
2010                                                     -     -

Shares bought back during 2 months to 31
October 2010                                             -     -         -     -
                                               ---------------------------------
As at 31 October 2010                           24,385,360   395 8,269,911    83


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







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Proven Growth & Income VCT plc via Thomson Reuters ONE

[HUG#1474157]