Interim Management Statement

TP10 VCT plc

15 July 2010

Interim Management Statement for the quarter ended 31 May 2010

TP10 VCT plc has pleasure in submitting its interim management statement for the quarter ended 31 May 2010. This constitutes the Company's first interim management statement for the financial year ending 28 February 2011, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets at 31 May 2010 comprised:

31 May 2010 28 February 2010

Unaudited Audited

£'000 % £'000 %

VCT non-qualifying current

asset investments at 18,900 66.4 - -

fair value

Net current assets 9,567 33.6 4,390 100.0

28,467 100.0 4,390 100.0

Net asset value per

Ordinary share 94.33p 94.25p

Investment Activity

During the quarter in accordance with its Investment Policy the VCT invested £18.9m in money market funds.

Material Events and Transactions

The offer for subscription for ordinary shares in the Company (the "Offer") closed on 31 May 2010, by which time £30.1m had been raised (£25.5m in the quarter ended 31 May 2010), £28.6m after offer costs and 30,178,014 shares allotted.

Further Information

For further information, please contact Claire Ainsworth or Chris Tottle at Triple Point Investment Management LLP on 0207 201 8989.