1. YFM Group Limited David Livesley Investment Director Yorkshire Funds

2. YFM Group Limited What we do What we invest in How we are judged What we deliver

3. Funds Overview Dec 2007Dec 2006 Funds Managed £300m£250m Available to invest £137m£135m No. investments 282217 Investment Range from £100k up to £8million “the leading provider of venture capital and private equity to UK SMEs “

4. What We Invest In Dec 2007 (%)Dec 2006 (%) Start up3.44.0 Early Expansion23.622.1 Development15.315.0 MBO / MBI26.926.5 AIM4.54.9 Follow on26.327.5 100.0

5. 0 5 10 15 20 25 Sep-04Sep-05Sep-06Mar-07Jun-07 DrawdownNAVReturn £’m Target return 2-3 x capital How we are judged Baring English Growth Fund (North) Performance

6. How we are judged British Smaller Companies VCT Plc Supported by 5,300 Private Investors 3 & 5 year growth no 2 out of 74 funds

7. Structural Funds in Yorkshire

8. 13 investment staff in the region 48 deals in the last 12 months

10. What we Deliver Exits in the last 3 years – year ending 31 October 16 realisations created 41millionaires with combined wealth £170million Returns to our investors – approx £70million on £22.5m