Interim Management Statement

ProVen Growth & Income VCT plc Interim Management Statement for the three months ended 30 November 2008 In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, ProVen Growth & Income VCT plc presents an Interim Management Statement for the three month period ended 30 November 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 31 October 2008, the Company paid interim capital dividends of 30.5p per Ordinary Share and 0.85p per 'C' Share and interim revenue dividends of 0.5p per Ordinary Share and 1.15p per 'C' Share in respect of the year ended 29 February 2009. As a result of the dividends paid in the period, a provision of £409,000 has been made in the Company's Ordinary Share Pool (equivalent to 6.0p per Ordinary Share) for fees payable to Beringea Limited under the terms of the performance incentive fee agreements. Performance Ordinary shares 30 Nov 31 Aug 29 Feb 2008 2008 2008 Pence Pence Pence Net Asset Value ("NAV") 60.10 94.60 121.60 Cumulative Dividends 132.90 101.90 81.90 Total Return * 193.00 196.50 203.50 * NAV plus cumulative dividends paid since launch of Company 'C' Shares 30 Nov 31 Aug 29 Feb 2008 2008 2008 Pence Pence Pence Net Asset Value ("NAV") 79.50 85.00 94.90 Cumulative Dividends 8.25 6.25 3.00 Total Return * 87.75 91.25 97.90 * NAV plus cumulative dividends paid since launch of 'C' Share fundraising Quoted investments are valued at the closing bid price at 30 November 2008. Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines. Investment portfolio summary at 30 November 2008 Ordinary Share Portfolio investments by value Cost Valuation £'000 £'000 Venture capital investments Espresso Broadband Limited 765 1,707 Overtis Group Limited (formerly - Optic Vision Limited) 350 350 Ashford Colour Press Limited 413 338 Campden Media Limited 487 207 UBC Media plc * 400 67 Pilat Media Global plc * 50 28 Immedia Broadcasting plc * 171 9 Sports Holdings Limited 48 - Baby Innovations S.A. t/a Steribottle 209 - 2,893 2,706 Liquidity funds 1,370 1,370 Total 4,263 4,076 'C' Share Portfolio investments by value Cost Valuation £'000 £'000 Venture capital investments Path Group Limited 1,000 1,000 Chess Technologies Limited 900 900 Eagle Rock Entertainment Group Limited 680 872 Charterhouse Leisure Limited 765 767 Saffron Media Group Limited 670 670 Optima Data Intelligence Services Limited 1,299 641 SPC International Limited 625 616 Overtis Group Limited (formerly - Optic Vision Limited) 500 500 Isango! Limited 650 433 Donatantonio Limited 1,366 422 Dianomi Limited 324 403 Heritage Partners Limited 900 330 Breeze Tech Limited 225 225 Steak Media Limited 375 186 Coolabi plc * 450 115 The Vending Corporation Limited 1,012 - 11,741 8,080 Liquidity funds 11,480 11,480 Total 23,221 19,560 * Quoted on AIM Investment additions during the 3 months ended 30 November 2008 Cost £'000 'C' Share Portfolio Optima Data Intelligence Services Limited 299 From the 1 December 2008 to the date of this announcement the Company made the following further addition: Cost £'000 'C' Share Portfolio Fjordnet Limited 500 Investment disposals during the 3 months ended 30 November 2008 Market value at Gain/(loss) Total 1 Sep Disposal against realised Cost 2008 proceeds cost gain £'000 £'000 £'000 £'000 £'000 Ordinary Share Portfolio Loan stock redemptions Ashford Colour Press Limited 69 69 69 - - Espresso Group Limited 19 19 63 44 44 88 88 132 44 44 'C' Share Portfolio The Vending Corporation Limited 5 - 5 - 5 Share capital Ordinary Shares 'C' Shares of 1p of 5p each each Shares £'000 Shares £'000 As at 1 September 2008 and 30 6,816,160 68 24,920,042 1,246 November 2008 On 13 January 2009, the Company purchased 22,810 "C" shares of 5p each for cancellation. Material events On 20 November 2008, the Company and ProVen VCT plc announced that they had published a joint prospectus to raise up to, in aggregate, £20 million through a linked offer for subscription. The offer for subscription will be in a new class of shares and will be for up to, in aggregate, 20,000,000 D ordinary shares of 1pence each, to be issued at a price of £1 each and divided equally between the Company and ProVen VCT plc. Other than this and the matters described above, there were no material events during the period from 1 September 2008 to 30 November 2008 or in the period from 1 December 2008 to the date of this announcement. ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.