Performance of Ordinary and C Shares

Ordinary Shares

The performance of Ordinary Shares for the six years ending 30 September 2006 is:

30/09/2001 30/09/2002 30/09/2003 30/09/2004 30/09/2005 30/09/2006
Nav1 77.7p 65.0p 72.1p 78.5p 93.9p 98.5p
Dividends2 16.5p 18.5p 19.4p 24.2p 29.0p 33.5p
Total 94.2p 83.5p 91.5p 102.7p 122.9p 132.0p


Return on initial NAV: 38.9%

'C' Shares

The performance of the 'C'Shares following the closing of the 'C' Share Offer is:

30/06/2005 30/09/2005 30/09/2006
Nav1 94.5p 95.1p 101.5p
Dividends2 0.0p 0.0p 0.5p
Total 94.5p 95.1p 102.0p


1 NAV per share (adjusted for IFRS), extracted from the unaudited interim financial information of the Company for each of the six month periods ending on the relevant date and the audited accounts of the Company to the relevant period.

2 Cumulative dividends per share (adjusted for IFRS).


Ten year total return to shareholders


10 year total return to shareholders

Source: BSC VCT plc Interim report, October 2007.