GFV Guin.Flght Vct

RNS Number:0278M
Guinness Flight Venture Cap Tst PLC
17 January 2008



Guinness Flight Venture Capital Trust PLC

Interim Management Statement - Quarter ended 30 November 2007



1.    Net Asset Value


The Net Asset Value at 30 November 2007 was 50.0p compared to 50.4p at 31 August
2007, a decrease of 0.8% over the quarter. The decrease in NAV was due to:


o   a loss on the revenue account
o   a modest reduction in the value of an AIM investment


There has been no reduction in the valuation of unlisted investments since that
shown in the interim report.

The NAV at 30 November 2007 reflects the valuation of unlisted investments at 31
August 2007 (as reported in the interim report for the six months ended 31
August 2007) adjusted for the closing bid price of quoted securities at 30
November 2007; the Board reviews valuations of unlisted holdings on a six
monthly basis.



2.      Investments Completed During the Quarter


Company              Deal Type     Details                                                  �'000
Funeral Services     MBO           Operator of funeral directors                           50,000
Partnership Limited



3.      Disposals during the quarter

During the quarter under review, Ashford Colour Press repaid �56,250 of its loan
stock at par. No other sales that had a material effect on the financial
position of the Company were made during the quarter.



4.      Update

Since the quarter ended, the investment in Sports Holdings was sold for cash
proceeds of �45,000 and a loan of �49,000 repayable in December 2010 and
carrying a yield of 2.5%. The investment had been valued at nil at 31 August
2007. In addition, the company has received loan stock redemptions and interest
from other portfolio companies amounting to �276,500 and agreement was reached
on the commercial dispute between Mawdsley's GNS and a supplier which is
expected to result in a redemption of loan stock by Mawdsley's in line with
valuation. These receipts will result in a material reduction in the company's
bank indebtedness.

The Board is not aware of any other events or transactions that have taken place
between 30 November 2007 and the date of publication of this statement which
would have had a material impact on the financial position of the Company.


Issued on behalf of the Board
Aberdeen Asset Management PLC, Secretary
17 January 2008


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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