Interim Management Statement

ProVen VCT plc
Interim Management Statement
for the three months ended 31 May 2008

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  2008.
The statement also  includes relevant  financial information  between
the end of the period and the date of this statement.

Dividends paid or declared in the period

On 14 March  2008, the Company  paid an interim  capital dividend  of
2.5p per Ordinary  Share in  respect of  the year  ended 29  February
2008.

As a  result of  the dividends  paid in  the period,  a provision  of
£116,000  has  been  made  in  the  Company's  Ordinary  Share   Pool
(equivalent to 0.5p per Ordinary Share) for fees payable to  Beringea
Limited and Downing Corporate Finance Limited under the terms of  the
performance incentive fee agreements.

On 19 June  2008, the Company  declared a final  revenue dividend  of
1.25p per Ordinary Share and 1.75p per C share in respect of the year
ended 29 February 2008.  These dividends will be paid on 22 July 2008
to Shareholders on the register at 4 July 2008.

Performance
Ordinary shares

                        31 May 2008 29 Feb 31 Aug 28 Feb
                                      2008   2007   2007
                              Pence  Pence  Pence  Pence
Net Asset Value ("NAV")        79.6   88.5   96.6  108.3
Cumulative Dividends           76.7   74.2   68.2   53.2
Total Return *                156.3  162.7  164.8  161.5

* NAV plus cumulative dividends paid since launch of the Company

'C' Shares

                        31 May 2008 29 Feb 31 Aug 2007 28 Feb
                                      2008               2007
                              Pence  Pence       Pence  Pence
Net Asset Value ("NAV")        84.0   89.6        95.6    N/A
Cumulative Dividends            1.0    1.0           -    N/A
Total Return *                 85.0   90.6        95.6    N/A

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

Quoted investments are  valued at  the closing  bid price  at 31  May
2008. Unquoted  investments are  valued  at fair  values  established
using the International Private Equity and Venture Capital  Valuation
Guidelines.

Investment portfolio summary at 31 May 2008
Ordinary Share Portfolio investments

                                                 Cost   Valuation
                                                £'000       £'000
Top ten venture capital investments (by value)
Espresso Group Limited                          2,048       4,543
SPC International Limited                       1,619       1,497
Ashford Colour Press Limited                      875         728
Eagle Rock Entertainment Group Limited            420         653
Optic Vision Limited                              500         500
Saffron Media Group Limited                       480         480
Campden Media Ltd                                 975         425
Isango Limited                                    400         400
UBC Media plc*                                  1,101         342
Optima Data Intelligence Services Limited         900         281
                                                9,318       9,849

Other venture capital investments               3,195         664

Liquidity funds                                 2,940       2,940

Total                                          15,453      13,453


'C' Share Portfolio investments by value

                                  Cost   Valuation
                                 £'000       £'000
Venture capital investments
Path Group Limited               1,000       1,000
Heritage Partners Ltd              900         538
SPC International Limited          402         408
Optic Vision Limited               400         400
Steak Media Limited                275         381
Charterhouse Leisure Ltd           371         371
Donatantonio Limited               875         323
Isango Ltd                         200         200
Breeze Tech Limited                175         175
Dianomi Limited                    126         126
The Vending Corporation Limited  1,016           -

                                 5,740       3,922

Liquidity funds                  8,310       8,310

Total                           14,050      12,232


* Quoted on AIM
Investment additions during the 3 months ended 31 May 2008


                           Cost
                          £'000
Ordinary Share Portfolio
Optic Vision Limited        500
SPC International Limited   472
Isango Limited              400
Coolabi plc                  17
                          1,389

'C' Share Portfolio
SPC International Limited   402
Optic Vision Limited        400
Isango Limited              200
Heritage Partners Limited   100
                          1,102


From 1 June 2008 to the  date of this announcement, the Company  made
the following further additions:


                              Cost
                             £'000

'C' Share Portfolio
Chess Technology Limited       600
Charterhouse Leisure Limited   165
                               765



Investment disposals during the 3 months ended 31 May 2008

                                Market
                              value at           Gain/(loss)    Total
                          1 March 2008  Disposal     against realised
                   Cost                 proceeds        cost     gain
                  £'000          £'000     £'000       £'000    £'000
ILG Digital
Limited           1,345          2,760     4,400       3,055    1,640




Changes to share capital

                                    Ordinary                'C'
                                      Shares             Shares
                                       of 5p             of 25p
                                        each               each
                                      Shares £'000       Shares £'000
As at 1 March 2008                23,138,248 1,157   14,617,777 3,654
Shares issued during 3 months to   1,338,126    67            -     -
31 May 2008
As at 31 May 2008                 24,476,374 1,224   14,617,777 3,654


Since the period end, the Company acquired 290,421 of its own
Ordinary Shares for cancellation.

Material events
Other than described above, there were no material events during  the
period from 1 March 2008 to 31 May 2008 or in the period from 1  June
2008 to the date of this announcement.

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