Interim Management Statement

Chrysalis VCT plc

Interim Management Statement

for the three months ended 31 January 2008

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Chrysalis VCT plc presents an Interim Management Statement for the three month period ended 31 January 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

No dividends were paid or declared in the period other than as previously reported.

Performance

	31 January 2008	31 October 2007	30 April 2007	31 October 2006
	Pence	Pence	Pence	Pence
Ordinary Shares
Net Asset Value ("NAV")	91.30	91.50	88.70	84.70
Cumulative Dividends	13.45	13.45	13.45	10.45
Total Return *	104.75	104.95	102.15	95.15
* (NAV plus cumulative dividends paid since launch)

'D' Shares
Net Asset Value ("NAV")	92.40	106.10	104.30	96.50
Cumulative Dividends	1.25	1.25	1.25	-
Total Return *	93.65	107.35	105.55	96.50
* (NAV plus cumulative dividends paid since launch)

'E' Shares
Net Asset Value ("NAV")	95.80	95.30	95.00	95.40
Cumulative Dividends	1.25	1.25	1.25	-
Total Return *	97.05	96.55	96.25	95.40
* (NAV plus cumulative dividends paid since launch)

Investment portfolio summary at 31 January 2008

Ordinary Pool		Cost	Valuation	Movement in period
		£'000	£'000	£'000
Twenty largest investments by value
Babel Media Limited		1,705	2,936	-
Precision Dental Laboratories Group Limited		2,100	2,167	-
ILG Digital Limited		806	2,101	-
Wessex Advanced Switching Products Limited		699	1,426	-
Centre Design Limited		1,350	1,205	-
Ultralon Holdings Limited		950	950	-
Triaster Limited		758	921	-
Mentorion Limited		850	820	-
Spice Inns Limited		700	789	-
British International Holdings Limited		700	700	-
Mentorion 2 Limited		700	700	-
Glisten plc	Quoted on AIM	149	693	(46)
Ensign Communications Limited		500	685	-
RFTRAQ Limited		325	680	-
The Capital Pub Company plc	Quoted on AIM	505	555	(116)
Optima Data Intelligence Limited		450	450	-
Zest Juice Limited		450	450	-
CPI Acquisition UK Limited		300	300	-
Planet Sport Holdings Limited		250	225	-
You Gov plc	Quoted on AIM	45	195	(81)

Subtotal		14,292	18,948	(243)
Other venture capital investments		3,426	1,082	(321)
Listed fixed income securities		4,868	4,879	37

Total		22,586	24,909	(527)

'D' Share Pool		Cost	Valuation	Movement in period
		£'000	£'000	£'000
Investments by value
Mentorion Limited		50	59	-
CPI Acquisition UK Limited		50	50	-
British International Holdings Limited		50	50	-
Mentorion 2 Limited		50	50	-
Rhino Sport and Leisure Limited		50	50	-
Spice Inns Limited		50	46	-
Hat Pin plc	Quoted on AIM	80	30	(75)

Total		380	335	(75)

'E' Share Pool	Cost	Valuation	Movement in period
	£'000	£'000	£'000
Investments by value
CPI Acquisition UK Limited	50	50	-
Ultralon Limited	50	50	-
Zest Juice Limited	50	50	-
Optima Data Intelligence Services Limited	50	50	-
Spice Inns Limited	50	46	-

Total	250	246	-

All investments are unquoted unless otherwise stated.

Investment additions during the 3 months ended 31 January 2008

	Cost	Ordinary Shares	'D' Shares	'E' Shares
	£'000	£'000	£'000	£'000
Babel Media Limited	100	100	-	-
Hat Pin plc	125	125	-	-
Nucleus Cash Trust	153	153	-	-
Treasury 4 ¼% 2011 Stock	1,883	1,883	-	-
	2,261	2,261	-	-

There have been no additions since the period end and the date of this report.

Investment disposals during the 3 months ended 31 January 2008

	Cost	Market value at 1 November 2007	Disposal proceeds	Gain/(loss) in period against cost	Total realised gain
	£'000	£'000	£'000	£'000	£'000

Advance Media Information Ltd	615	934	1,175	560	241
Nucleus Cash Trust	2	2	2	-	-
Tellings Golden Miller plc	75	30	48	(27)	18
Treasury 4 ¼% 2007 Stock	2,084	1,927	1,925	(159)	(2)
	2,776	2,893	3,150	374	257

Since the period end, the Company disposed of a small holding in You Gov plc receiving proceeds of £48,000.

Changes to share capital

	Ordinary Shares of 1p each		'D' Shares of 1p each		'E' Shares of 1p each
	Shares	£'000	Shares	£'000	Shares	£'000
As at 31 October 2007	32,669,120	327	536,072	5	601,376	6
Shares bought back and cancelled	-	-	-	-	-	-
As at 31 January 2008	32,669,120	327	536,072	5	601,376	6

Since the period end the Company has bought back 351,150 Ordinary Shares of 1p for cancellation.

Material events

Other than described above, there were no material events during the period from 1 November 2007 to 31 January 2008 or in the period from 1 February 2008 to the date of this announcement.