TP70 2008 (II) VCT plc

12 February 2010

Interim Management Statement for the quarter ended 31 December 2009

TP70 2008 (II) VCT plc has pleasure in submitting its interim management statement for the quarter ended 31 December 2009.  This constitutes the Company's second interim management statement for the financial period ending 31 March 2010, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets at 31 December 2009 comprised:

31 December 2009              30 June 2009             31 March 2009

       Unaudited                      Unaudited                    Audited

  £'000          %              £'000                %         £'000           %

VCT qualifying fixed asset

investments at fair value               11,055        55.9            11,055              55.9        9,108        46.1

VCT non-qualifying fixed asset

investments at fair value                   433          2.2                 433               2.2               0         0.0

GAM Diversity 2.5XL                  4,682        23.7               4,331             21.9        4,332       21.9

Net current assets                         3,592        18.2               3,949             20.0        6,322       32.0

                                                 19,762      100.0             19,768           100.0      19,762      100.0

Net asset value per Ordinary

share                                         86.30p                          86.33p                          86.30p

Investment Activity

The Company has made no further VCT investments this quarter but is still on course to satisfy the target of having 70% 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 12 months to 31 December 2009, GAM Diversity 2.5XL has returned 8.14% in Sterling terms.

Material Events and Transactions

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

Further Information

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