Portfolio update

EVC Christows PLC
22 December 2000

                              EVC CHRISTOWS PLC


                              TRADING STATEMENT


                               PORTFOLIO UPDATE


The Board of EVC Christows PLC ('EVC') has carried out a detailed review of
its investment portfolio. Further to a statement earlier this week in relation
to the sale of Sharepeople Group Plc, an investee company, the Board of EVC
has concluded that, in light of sustained and worsening conditions in the
public and private equity capital markets, it would be prudent to increase the
level of provisions against the portfolio by a further £8.7 million.


Together with the provision announced in the Interim Statement for the 6
months ended 30 June 2000 the total charge to the profit and loss account for
the year ending 31 December 2000 therefore is expected to be £14.17 million.


The Group remains very well capitalised, with cash of £36.8 million and quoted
securities currently valued at £13.4 million together amounting to £50.2
million. The Group also intends to report in the results for the year ending
31 December 2000 a write-off of goodwill amounting to £4.2 million, arising
from the acquisition by Christows Group Ltd. of Christows Holdings Ltd. This
item does not affect the cash position of the Group.


The Board firmly believes that now is the right time to undertake this
provisioning to enable the newly merged EVC Christows to go into 2001 with
vigour and business focus. The company remains committed to working closely
with its investee companies to deliver maximum value, which the Board believes
to be considerable.


Duncan Abbot, Chief Executive Officer, stated today:


'EVC Christows is a dynamic new business with an experienced and highly
committed management team. We are all focussed on delivering maximum value to
our shareholders over the long-term. The Group is now well-positioned to build
on its stated strategy of expanding the business around a revenue generating
fund management and stockbroking operation, with particular emphasis on high
growth and advanced technology companies.'


- ENDS




Contact Details:




Duncan Abbot               Telephone: [phone]


Adrian Graham          Telephone: [phone]


www.EVC-Christows.com