Net Asset Value(s)

The Board of Baronsmead Second Venture Trust plc (the "Company") announces that the unaudited net asset value of the Ordinary Shares at 31 March 2020 was 66.32p per share.

For the purposes of calculating the net asset value per share, the unquoted investments are carried at fair value as at 23 March 2020 as determined by the directors following a detailed review of the portfolio by Gresham House Asset Management Ltd (the "Investment Manager"). A further review of the unquoted investment portfolio as at 31 March 2020 is being completed by the Investment Manager during April and a restated 31 March 2020 NAV will be announced following approval of the valuations by Directors.  The quoted investments are carried at bid price as at 31 March 2020.

The Investment Manager has provided an update on the COVID-19 crisis and the impact and implications for the VCT portfolio. It can be found on the Company website www.baronsmeadvcts.co.uk.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

For further information contact:

Baronsmead VCT Investor Relations

020 3875 9862

baronsmeadvcts@greshamhouse.com

Legal Entity Identifier: 2138008D3WUMF6TW8C28