Interim Management Statement

RNS Number:8275W
Ingenious Music VCT PLC
18 May 2007





                     INGENIOUS MUSIC VCT plc (the Company)


                          INTERIM MANAGEMENT STATEMENT


                 For the period 1 February 2007 to 17 May 2007

INVESTMENT ACTIVITIES

Three investments have been made by the Company in the period from 1 February
2007 to 17 May 2007. The first was in newcomers Vatican DC, the second was in
Ulrich Schnauss, and the third saw a further #500,000 investment in Travis's
fifth album. All investments made by the Company are fair valued at the price of
acquisition as there has been no impairment or uplift to realise in the profit
and loss account mainly due to the recent timing of the acquisition of the
portfolio.

VATICAN DC

After just a few years together, Vatican DC, based in London, is due to release
their debut album in conjunction with The Red Flag Recording Company, set up by
Dick Leahy, best known for discovering Wham! and George Michael. Vatican DC has
already supported the likes of The Prodigy and Bloc Party on their respective
tours and is gaining popularity on the radio scene after being aired by Radio 1
and Xfm.

The Company invested #277,000 in Vatican DC through the joint venture company,
Jolly Roger Recordings Ltd on 20 February 2007.

ULRICH SCHNAUSS

Ulrich Schnauss is an up-and-coming artist who released an album earlier this
year to much critical acclaim. His musical style is both innovative and creative
veering from ambient to drum and bass via electronica.

The Company invested #222,000 in Ulrich Schnauss through the joint venture
company, Independiente Music Ventures - Ulrich Schnauss Ltd on 20 March 2007.

TRAVIS

The Company invested a further #500,000 on 10 May 2007 in Independiente Music
Ventures -Travis Ltd, bringing the total invested in Travis to #1,500,000.

The new Travis album entitled 'The Boy With No Name' was released on 7 May 2007
to much critical acclaim, including the highly regarded Music Week 'Album of the
Week' feature.

The Manager continues to actively source and review new investment propositions
and has a strong pipeline of opportunities which it should be well placed to
conclude in the coming months, well within the deadline to retain VCT status.






NET ASSET VALUE PER SHARE (financials prepared up to and including 30 April
2007)
                                              30 April 2007      31 January 2007
-------------------------                        ----------          -----------
Net assets attributable to shareholders
(#'000)                                            14,262               14,312

Shares in issue (number)                       15,093,283           15,093,283
-------------------------                        ----------          -----------
Net asset value per share (pence)                    94.5                 94.8
-------------------------                        ----------          -----------


A copy of this interim management statement can be obtained from the following
website: www.londonstockexchange.com

Enquires to:

Sarah Cruickshank

Ingenious Ventures Limited

15 Golden Square

London

W1F 9JG

0207 913 4000



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

END
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