Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2011

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 31 May  2011. The statement also includes relevant
financial  information  between  the  end  of  the  period  and the date of this
statement.

Forthcoming Dividend
The Board declared an interim dividend on 15 February 2011 of 6.25p per Ordinary
Share to Shareholders on the register on 3 June 2011 to be paid on 29 July 2011.

Performance
Ordinary Shares


                           31 May   28 Feb   31 Oct   31 Aug
                             2011     2011     2010     2010

                            Pence    Pence    Pence    Pence

 Net Asset Value ("NAV")    60.30    61.00    51.40    47.80

 Cumulative Dividends      101.45   101.45   101.45   101.45

 Total Return *            161.75   162.45   152.85   149.25

* NAV plus cumulative dividends paid since launch of Company

 'C' Shares


                           31 May   28 Feb   31 Oct   31 Aug
                             2011     2011     2010     2010

                            Pence    Pence    Pence    Pence

 Net Asset Value ("NAV")    76.60    76.80    71.00    71.40

 Cumulative Dividends        4.75     4.75     4.75     4.75

 Total Return *             81.35    81.55    75.75    76.15

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

'D' Shares


                           31 May   28 Feb   31 Oct   31 Aug
                             2011     2011     2010     2010

                            Pence    Pence    Pence    Pence

 Net Asset Value ("NAV")    89.60    90.00    92.30    92.30


Quoted  investments are valued at the closing bid price at 31 May 2011. 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

Ordinary Share Portfolio summary


                                          Valuation

                                              £'000

 Venture capital investments

 Espresso Group Limited                       3,331

 SPC International Limited                    1,660

 Eagle Rock Entertainment Group Limited       1,309

 Campden Media Limited                        1,170

 Think Limited                                  741

 Donatantonio Limited                           728

 Tossed Limited                                 468

 Ashford Colour Press Limited                   433

 Fjordnet Limited                               346

 Overtis Group Limited                          134

 Other investments                              610
                                        ------------
                                             10,930

 Cash at bank and other liquid funds          5,766
                                        ------------
 Total                                       16,696


'C' Share Portfolio investment summary


                                       Valuation

                                           £'000

 Venture capital investments

 Fjordnet Limited                          1,384

 Donatantonio Limited                      1,107

 Lazurite Limited                            968

 Think Limited                               741

 Charterhouse Leisure Limited                679

 SPC International Limited                   605

 Speed-Trap Holdings Limited                 470

 Chess Technologies Limited                  455

 Overtis Group Limited                       364

 Tossed Limited                              345

 Other investments                         1,577
                                     ------------
                                           8,695

 Cash at bank and other liquid funds       2,466
                                     ------------
 Total                                    11,161


'D' Share Portfolio investment summary


                                       Valuation

                                           £'000

 Venture capital investments

 MatsSoft Limited                            650

 Speed-Trap Holdings Limited                 300

 Fjordnet Limited                            185

 Tossed Limited                              183

 Monica Vinader Limited                      138

 Cinergy International Limited               115

 Senselogix Limited                           92
                                     ------------
                                           1,663

 Cash at bank and other liquid funds       5,798
                                     ------------
 Total                                     7,461


Investment activity during the three month period ended 31 May 2011

Additions


                                     'C'                'D'
                         Share Portfolio    Share Portfolio

                                   £'000              £'000

 Campden Media Limited               227                  -

 Overtis Group Limited               129                  -

 Senselogix Limited                   37                 23
                       -------------------------------------
                                     393                 23


There were no Ordinary Share Portfolio investment additions in the three month
period ended 31 May 2011.

Disposals


'C' Share pool                                                     Realised gain
                Cost  Market value        Disposal   Gain against      in period
                        at 1 March        proceeds           cost
                              2011

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

Steak Media      456           531             548             92             17
Limited

There were no Ordinary Share or 'D' Share Portfolio investment disposals in the
three month period ended 31 May 2011.


Investment activity from 1 June 2011 to the date of this report

Additions


                                Ordinary               'C'                'D'
                         Share Portfolio   Share Portfolio    Share Portfolio

                                   £'000             £'000              £'000

 Tossed Limited                      110                80                 40

 Overtis Group Limited                40                62                  -
                       -------------------------------------------------------
                                     150               142                 40


Disposals
There have been no investment disposals from 1 June 2011 to the date of this
announcement.

Changes to share capital


                                Ordinary Shares       'C' Shares      'D' Shares

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

As at 1 March 2011             25,190,612 1,259 14,514,942 3,629 8,269,911    83

Shares issued during 3 months
to 31 May 2011                  2,519,590   126          -     -         -     -

Shares bought back during 3
months to 31 May 2011            (42,612)   (2)   (15,152)   (4)         -     -
                              --------------------------------------------------
As at 31 May 2011              27,667,590 1,383 14,499,790 3,625 8,269,911    83


Offer for Subscription
The Company's Top-Up Offer for Subscription launched on 11 January 2011 was
fully subscribed and closed on 6 May 2011.

Material events
Other than as described above, there were no material events during the period
from 1 March 2011 to 31 May 2011 or in the period from 1 June 2011 to the date
of this announcement.








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     originality of the information contained therein. 
    
Source: Proven VCT plc via Thomson Reuters ONE

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