Statement re changes to management arrangements

3 Aug 2006 14:28

TriVen VCT plc (the "Company")Changes to management arrangementsThe Board has been considering with its advisers ways of streamlining theCompany's structure and of improving shareholder returns. Elderstreet PrivateEquity Limited ("Elderstreet") currently advises on less than 15% of theportfolio of the Company and has decided to focus on its other retail andinstitutional funds. The Nova Capital Management Limited ("Nova") portfolio hasalready been fully realised. The Board is, therefore, pleased to announce thatboth Investment Managers have offered their resignations with immediate effect.The Board wishes to thank the Investment Managers for their work on behalf ofthe Company and wishes each Investment Manager every success in the future.Matrix Private Equity Partners ["MPEP"] currently manages over 85% of theportfolio. The Board intends that going forward MPEP will assume bothElderstreet's and Nova's responsibilities thereby becoming the sole InvestmentManager for the Company.The Board is also considering the possibility of a further fund-raising to beundertaken in the current tax year and expects to send a circular toshareholders shortly giving full details of these developments.ENDTRIVEN VCT PLC