Albion Technology & General VCT PLC Interim Management Statement

Introduction
I present Albion Technology & General VCT PLC (the "Company")'s interim management statement for the period from 1 January 2015 to 19 May 2015.

Performance and dividends
The Company's unaudited net asset value (NAV), as at 31 March 2015 was £64.52 million or 80.44 pence per share (excluding treasury shares), a decrease of 1.16 pence per share or 1.4 per cent. since 31 December 2014 after accounting for the first dividend of 1.25 pence per share which was paid on 9 February 2015 to shareholders on the register as at 16 January 2015. The decline was mainly due to a fall in the share price of the AiM quoted Mi-Pay Group plc, which has since partially recovered (the bid price of those shares having fallen from 32p to 23p and recovered to 28p).

A second dividend of 1.25 pence per share was paid on 30 April 2015 to shareholders on the register as at 10 April 2015.

Share issues
During the period from 1 January 2015 to 19 May 2015, the Company issued a total of 5,539,903 new Ordinary shares under the Albion VCTs Prospectus Top Up Offers 2014/2015. These issues raised net proceeds of £4.49 million, which is made up as follows:

The proceeds of the Offer are being used to provide further resources to the Company at a time when a number of attractive new investment opportunities are being seen.

A Securities Note which forms part of the Prospectus can be found on the website www.albion-ventures.co.uk. The Offer will close on 30 September 2015 (unless fully subscribed earlier).

In addition, the following shares were issued under the dividend reinvestment scheme:

Share buy-backs
During the period from 1 January 2015 to 19 May 2015, the Company purchased 1,330,000 shares for £1.0 million at an average price of 75.25 pence per share. All of the shares are to be held in treasury.

It remains the Board's policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company's interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders. As mentioned in the Chairman's statement of the latest Annual Report, the Company intends to limit the sum available for share buy-backs for the six month period to 30 June 2015 to £1,000,000. The buy-back limit has therefore been reached.

It is the Board's intention for such buy-backs to be at around a 5 per cent. discount to net asset value, so far as market conditions and liquidity permit.

Portfolio
The following investments have been made during the period from 1 January 2015 to 19 May 2015:

Disposals and loan stock repayments
The following disposals and loan stock repayments were made during the period from 1 January 2015 to 19 May 2015:

Top ten holdings as at 31 March 2015:

A full breakdown of the Company's portfolio can be found on the funds website under current portfolio at www.albion-ventures.co.uk/ourfunds/AATG.htm, by following the 'Portfolio of Investments' link under the 'Investor Centre' section.

Material events and transactions
There have been no further significant events or transactions that the Board is aware of which would have a material impact on the financial position of the Company between 1 January 2015 to 19 May 2015.

Further information
The Company continues to offer a Dividend Reinvestment Scheme to existing shareholders. Details of this Scheme can be found at www.albion-ventures.co.uk/ourfunds/AATG.htm.

Further information regarding historic and current financial performance and other useful shareholder information can be found on the Fund's webpage under www.albion-ventures.co.uk/ourfunds/AATG.htm.

Dr. Neil Cross, Chairman
19 May 2015
For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: 020 7601 1850