TP70 2008 (II) VCT plc

29 July 2010

Interim Management Statement for the quarter ended 30 June 2010

TP70 2008 (II) VCT plc has pleasure in submitting its interim management statement for the quarter ended 30 June 2010.  This constitutes the Company's first interim management statement for the financial period ending 31 March 2011, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets at 30 June 2010 comprised:

   30 June 2010                                     31 March 2010

                                                                 Unaudited                                           Audited

                                                            £'000             %                                   £'000           %

VCT qualifying fixed asset

investments at fair value                         10,342           53.5                                  10,342       52.2

VCT non-qualifying fixed asset

investments at fair value                             196            1.0                                       196        1.0

GAM Diversity 2.5XL                            4,209           21.8                                    4,714      23.8

Net current assets                                   4,566           23.6                                    4,557       23.0

                                                           19,313          100.0                                 19,809      100.0

Net asset value per Ordinary

share                                                    84.34p                                                  86.51p

Investment Activity

The Company has made no further VCT investments this quarter but remains on course to satisfy the target of being 70% invested in VCT qualifying holdings by the end of the third accounting period.

The exposure to GAM Diversity 2.5XL is achieved directly through the Company's 50% holding in Lorngreen Ltd and indirectly through a derivative transaction with Julius Baer. For the quarter to 30 June 2010 in sterling terms GAM Diversity was down 5.6%, GAM Diversity 2.5XL was down 14.72%, the FTSE All Share index was down 11.80% and the HFRX Fund of Hedge Fund index was down 2.86%.

Material Events and Transactions

During the quarter no shares were issued and no shares were purchased by the Company for cancellation.

The Board announced on 8 June 2010 that it has resolved to pay a dividend of £282,000 (1.23p per share) equal to its revenue profits for the year ended 31 March 2010. The dividend will be paid on 30 July 2010.

Further Information

For further information, please contact Claire Ainsworth or Chris Tottle at Triple Point Investment Management LLP on 0207 201 8989.