Interim Management Statement

Chrysalis VCT plc

Interim Management Statement

for the three months ended 31 July 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 July 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 25 July 2008, the Company paid a 2p dividend to Ordinary Shareholders on the register at 11 July 2008.

Performance

	31 July 2008	30 April 2008	31 October 2007	30 April 2007	31 October 2006
	Pence	Pence	Pence	Pence	Pence
Ordinary Shares
Net Asset Value ("NAV")	88.50	91.10	91.50	88.70	84.70
Cumulative Dividends	18.95	16.95	13.45	13.45	10.45
Total Return *	107.45	108.05	104.95	102.15	95.15


'D' Shares
Net Asset Value ("NAV")	81.70	81.50	106.10	104.30	96.50
Cumulative Dividends	3.25	3.25	1.25	1.25	-
Total Return *	84.95	84.75	107.35	105.55	96.50

'E' Shares
Net Asset Value ("NAV")	67.50	67.30	95.30	95.00	95.40
Cumulative Dividends	3.25	3.25	1.25	1.25	-
Total Return *	70.75	70.55	96.55	96.25	95.40

* (NAV plus cumulative dividends paid since launch)

Investment portfolio summary at 31 July 2008

Ordinary Pool		Cost	Valuation	Valuation movement in period
		£'000	£'000	£'000
Top ten venture capital investments by value
Precision Dental Laboratories Group plc		2,100	3,072	-
Wessex Advanced Switching Products Limited		699	2,861	-
Triaster Limited		758	1,245	-
Centre Design Limited		1,350	1,205	-
Mentorion Limited		700	987	-
British International Holdings Limited		700	807	-
Ensign Communications Limited		500	704	-
Mentorion II Limited		700	700	-
Glisten plc *	Quoted on AIM	149	513	(91)
Optima Data Intelligence Limited		450	450	-

Subtotal		8,106	12,544	(91)
Other venture capital investments		6,685	2,167	(92)
Listed fixed income securities		4,951	4,898	(43)
Cash at bank and in hand		8,430	8,430	-
Total		28,172	28,039	(226)

'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	-	-
Hat Pin plc	Delisted from AIM	80	-	-

Subtotal		380	259	-
Cash at bank and in hand		154	154
Total		534	413	-

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

Subtotal	200	100	-
Cash at bank and in hand	311	311

Total	511	411	-

All investments are unquoted unless otherwise stated.

Investment additions during the 3 months ended 31 July 2008

	Cost	Ordinary Shares	'D' Shares	'E' Shares
	£'000	£'000	£'000	£'000
Heath and Green Limited	30	30	-	-

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

Investment disposals during the 3 months ended 31 July 2008

	Cost	Market value at 1 November 2007 *	Disposal proceeds	Gain/(loss) in period against cost	Total realised gain
	£'000	£'000	£'000	£'000	£'000
Ordinary Share pool
Babel Media Limited	1,705	2,936	3,190	1,485	254

* Adjusted for additions since 1 November 2007

There were no disposals from either the 'D' or 'E' Share Pool during the period, and have been no disposals from any pool since the period end and the date of this report.

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 1 May 2008	31,895,521	319	532,982	5	601,376	6
Shares bought back and cancelled	(193,025)	(2)	-	-	-	-
As at 31 July 2008	31,702,496	317	536,072	5	601,376	6

Since the period end the Company has bought back 92,306 Ordinary Shares of 1p each for cancellation.

Material events

Other than described above, there were no material events during the period from 1 May 2008 to 31 July 2008 or in the period from 1 August 2008 to the date of this announcement.