Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the three months ended 30 November 2009

In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK
Listing  Authority, ProVen VCT plc presents  an Interim Management Statement for
the  three  month  period  ended  30 November  2009. 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
December 2009 to the date of this announcement.

Performance
Ordinary Shares

                            30 Nov 2009   31 Aug    31 May   28 Feb
                                             2009     2009     2009

                                  Pence     Pence    Pence    Pence

  Net Asset Value ("NAV")         53.00     53.10    58.10    57.70

  Cumulative Dividends            93.45     93.45    92.45    92.45

  Total Return *                 146.45    146.55   150.55   150.15

* NAV plus cumulative dividends paid since launch of Company

 'C' Shares

                            30 Nov 2009   31 Aug    31 May   28 Feb
                                             2009     2009     2009

                                  Pence     Pence    Pence    Pence

  Net Asset Value ("NAV")         76.50     72.30    76.30    75.60

  Cumulative Dividends             4.75      4.75     3.75     3.75

  Total Return *                  81.25     77.05    80.05    79.35

* NAV plus cumulative dividends paid since launch of 'C' Share fundraising

'D' Shares

                            30 Nov 2009   31 Aug    31 May
                                             2009     2009

                                  Pence     Pence    Pence

  Net Asset Value ("NAV")         92.90     93.40    94.20


Quoted  investments are  valued at  the closing  bid price at 30 November 2009.
Unquoted   investments   are   valued  at  fair  values  established  using  the
International Private Equity and Venture Capital Valuation Guidelines.

Investment portfolio summary at 30 November 2009

Ordinary Share Portfolio summary

                                           Valuation

                                                £'000

  Venture capital investments

  Espresso Group Limited                        3,483

  Eagle Rock Entertainment Group Limited          611

  Overtis Group Limited                           630

  Saffron Media Group Limited                     519

  Ashford Colour Press Limited                    492

  Think Limited                                   470

  SPC International Limited                       466

  Campden Media Limited                           463

  Donatantonio Limited                            375

  Fjordnet Limited                                304



  Other investments                               666


                                         --------------
                                                8,479
                                         --------------


  Liquidity funds                               3,190
                                         --------------


  Total                                        11,669


'C' Share Portfolio investments summary

                                 Valuation

                                      £'000

  Venture capital investments

  Fjordnet Limited                    1,214

  Path Group Limited                    747

  Charterhouse Leisure Limited          865

  Donatantonio Limited                  571

  Chess Technologies Limited            619

  Think Limited                         470

  Overtis Group Limited                 503

  SPC International Limited             397

  Heritage Partners Limited             248

  Steak Media Limited                   145



  Other investments                     215


                               --------------
                                      5,994
                               --------------


  Liquidity funds                     6,010
                               --------------


  Total                              12,004


The  'D' Share pool did  not hold any investments  other than cash and liquidity
funds as at 30 November 2009.


Investment additions in the three month period ended 30 November 2009


  Ordinary Pool           £'000

  Think Limited             470

  Overtis Group Limited     143
                        ---------
                            613



  'C' Pool                £'000

  Think Limited             470

  Overtis Group Limited     114
                        ---------
                            584


Investment disposals during the three month period ended 30 November 2009

 Ordinary Pool    Cost Market value       Disposal  Gain against Total realised
                          at 1 Sept       proceeds          cost           gain
                               2009

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

 Ashford Colour    125           58            125             -             67
 Press Limited
                ----------------------------------------------------------------
                   125           58            125             -             67




 'C' Pool        Cost  Market value       Disposal  Gain against Total realised
                          at 1 Sept       proceeds          cost           gain
                               2009

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

 Dianomi           21            21             21             -              -
 Limited
               -----------------------------------------------------------------
                   21            21             21             -              -


In  December, Optima Data Intelligence Services Limited went into administration
and  has  been  treated  as  realised.   Other  than  that,  there  have been no
investment  additions  or  disposals  from  1 December  2009 to the date of this
announcement.

Changes to share capital

                        Ordinary Shares of 5p    'C' Shares of   'D' Shares of
                                          each         25p each         1p each

                          Shares         £'000     Shares £'000    Shares £'000

 As at 1 September                                              5,299,288   265
 2009                 23,874,616         1,194 14,612,777 3,653

 Shares issued during
 3 months to 30                                                   226,229    11
 November 2009         (149,382)           (8)   (24,494)   (6)
                     -----------------------------------------------------------
 As at 30 November                                              5,525,517   276
 2009                 23,725,234         1,186 14,588,283 3,647


In the period from 1 December to the date of this report 87,444 Ordinary shares
were repurchased at a price of 48p per share.

Material events
Other than described above, there were no material events during the period from
1 September  2009 to 30 November 2009 or  in the period  from 1 December 2009 to
the date of this announcement.


[HUG#1373964]