Interim Management Statement

    Quester VCT 4 plc ('the Company')

Interim Management Statement

This Interim Management Statement for the quarter ended 31 March 2008, is
unaudited and is provided in accordance with Rule 4.3 of the Disclosure and
Transparency Rules of the UK Listing Authority. The statement also includes
relevant information from the period from 1 April 2008 to the date of issue.
The Statement has been prepared solely to provide additional information in
order to meet the relevant requirements of the UK Listing Authority's
Disclosure and Transparency Rules, and should not be relied on by Shareholders,
or any other party, for any other purpose.

Net Asset Value (NAV) and Dividends

The NAV as at 31 March 2008 was 45.0p per share.

Venture Capital Investments

During the quarter the Company made six follow-on investments of £356,000. One
new unquoted investment of £450,000 was made in Isango Limited. Isango Limited
is a leading provider of travel experiences on the internet.

As reported in the Annual Report the Company realised two investments. On 10
January 2008, the Company sold its entire stake in Nomad Payments Limited for £
3.0 million and on 29 January 2008 the investment in Identum Limited was sold
for £763,000.

Since the quarter end, three follow-on investments totalling £57,000 have been
made.

Share Capital

The number of ordinary shares in issue at 31 March 2008 was 46,373,525. During
the quarter ended 31 March 2008, 342,000 shares were bought back.

Since 1 April 2008 a further 205,000 shares have been bought back.

Other than described above, the Board is not aware of any events during the
period from 31 March 2008 to the date of this statement, which would have had a
material impact on the financial position of the Company.

Issued on behalf of the Board

Nghi Tran

Company Secretary

19 May 2008



END