CHELVERTON GROWTH TRUST PLC

Investment Policy and Objective
The objective is to provide capital growth through investment in companies listed on the Official List and traded on the Alternative Investment Market (AIM) with a market capitalisation at the time of investment of up to £50 million, which the Manager believes to be at a "point of change".

The Company will invest in unquoted investments where it is believed that there is a likelihood of the shares becoming listed or traded on AIM or the investee company being sold.

Its objective is to increase the net asset value per share at a higher rate than other quoted smaller company trusts and the FTSE All Share Index.

It is the Company's policy not to invest in any listed investment companies (including listed investment trusts).

Fund Manager
David Horner, David Taylor (Tel: 020 7222 8989)

Capital structure
18,141,139 Ordinary 1p shares
The Company's share price is quoted daily in the Financial Times under Investment Companies.

Year end
31 August

Wind-up date
November 2009

Directors
Mr G Stevens (Chairman)
Mr K Allen (non-executive)
Mr B Lenygon (non-executive)
Mr D Horner (non-independent)

Company Secretary & Registered Office
Capita Sinclair Henderson Limited
Beaufort House
51 New North Road
Exeter
EX4 4EP
Tel: 01392 412122

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