Interim Management Statement

    Core VCT I plc (the "Company")

16 May 2008

Interim Management Statement

For the quarter ended 31 March 2008

PERFORMANCE

                             At 31 March 2008           At 31 December 2007    
                                                                               
                             Ordinary      B Shares      Ordinary      B Shares
                               Shares                      Shares              
                                                                               
Net asset value per           100.64p         1.00p       101.49p         1.00p
share (excluding                                                               
current year income)                                                           
                                                                               
Cumulative dividends            3.10p             -         3.10p             -
paid to date per share                                                         
                                                                               
Total return since            103.74p         1.00p       104.59p         1.00p
inception per share*                                                           
                                                                               
Share price                       90p         4.50p           90p         4.50p

*NAV plus cumulative dividends paid to date

DIVIDENDS

No dividends were paid during the period. Subject to Shareholder approval at
the Annual General Meeting on 4 June 2008, a final dividend of 4p per share in
respect of the year ended 31 December 2007 will be paid on 23 June 2008 to
shareholders on the register on 30 May 2008, bringing a total return to
higher-rate tax paying shareholders of 47.1p (after taking account of their
initial income tax relief) on the original 100p per share they invested just
over three years ago.

NEW INVESTMENTS

A further investment of £125,000 was made in Pureleaf Limited, one of the
Company's existing investments.

SHARE CAPITAL

The Company has not issued or bought back any shares during the period.

FURTHER RETURN OF FUNDS

From its inception, the Company has been structured to build a diverse
portfolio of investments, to realise this portfolio and return both realised
gains and capital to investors as swiftly as possible through tax free
distributions

With the initial investment period of 3 years now completed, the Directors
intend to commence distribution of the Cash Assets, subject to the maintenance
of adequate working capital and the retention of an appropriate fund to permit
subsequent funding rounds in existing investments. We are monitoring the
portfolio and we expect to have a clearer view on any potential further funding
requirements and therefore our ability to make further distributions as the
year progresses.

In common with all Venture Capital Trusts, there is little if any available
liquidity in trading in the Company's shares, and although the Directors are
able to buy back shares within certain constraints, this is intended for use
only in exceptional circumstances. Accordingly, those investors who seek to
realise value by selling their shares in the secondary market are likely to
suffer a significant discount and potential loss of value. We would strongly
suggest that shareholders consider holding their shares with a view to
benefiting from future realisations.

For further information, please contact:

Robert Brittain, for Matrix-Securities Limited, Company Secretary on 020 7925 3300.

END