Interim Management Statement

RNS Number:9991J
Ingenious Music VCT PLC
17 December 2007


                    Ingenious Music VCT plc ("the Company")


                          Interim Management Statement


                For the period 1 August 2007 to 14 December 2007


INVESTMENT ACTIVITIES & PERFORMANCE


We are pleased to report that following investments in Sirens and Peter
Gabriel's Real World Records, Ingenious Music VCT plc has now fully committed
the fund. This last investment complements an already diverse portfolio of
emerging talent and established musical acts.


It is usual during the Christmas period for the UK music market to be saturated
by a flurry of major artist albums, compilations and re-releases.  It is
therefore not surprising that Ingenious Ventures Limited ("the Manager") has
reported  that the release of a number of albums backed by the Company have been
re-scheduled for the early months of 2008. The record companies and the Manager
both feel that this will give the artists a better chance of commercial success
as a release in the Christmas market could easily be lost.


The Manager continues to monitor all of the Company's investments and the
Company has begun to receive royalty accountings in relation to the albums
already released.


1. Sirens


Formed in the late 1990s, Sirens are a three-piece girl band with a sound that
is an exciting fusion of Motown Soul and Missy Elliott cool. Signed by
Kitchenware Records in 2002, their last album, 'Control Freaks', was a success
in the UK, Europe and Japan. They are currently working on their second album,
'La La Land', in conjunction with producers Wayne Rodrigues (Natasha
Bedingfield), Justin Trugman (Eminem, Janet Jackson) and DeeKay (Lemar,
Misteeq). The album will be mixed by Dave Pensado who is noted for his work with
Christina Aguilera and The Black Eyed Peas.



2. Real World Records


Real World Records was launched by Peter Gabriel and WOMAD in 1989 to provide
talented artists from around the world with state-of-the-art recording
facilities and gain exposure to audiences beyond their geographic region.
Artists signed by Real World Records to date have included: The Blind Boys of
Alabama, Nusrat Fateh Ali Khan, Afro Celt Sound System and Sheila Chandra.
Since then, the company has achieved considerable success with sales of nearly 6
million albums, with 15 of the albums breaking the 100,000 units barrier.


The co-investment in Real World Records from the Company and Ingenious Music VCT
2 plc provides the label with a total funding budget of �1.75 million to sign
and release a roster of 10-15 artists.



NET ASSET VALUE


                                                      30 November 2007        31 July 2007

Net assets attributable to shareholders (�'000)                 13,733              13,833

Shares in issue (number)                                    15,093,283          15,093,283





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


Enquiries to


Sarah Cruickshank

Ingenious Ventures Limited

15 Golden Square

London

W1F 9JG


0207 319 4000






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

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