Portfolio Update

MAJEDIE INVESTMENTS PLC

In accordance with UKLA Listing Rule 15.4.11(2), the following list represents
as at 31 December 2005, the Company's 10 largest investments and where
appropriate, any investment with a value greater than 5% of the Company's gross
assets:

Name of company                                   Class of Share             
                                                                             
BP                                                Ordinary                   
                                                                             
HSBC Holdings                                     Ordinary                   
                                                                             
Royal Bank Of Scotland Group                      Ordinary                   
                                                                             
Barclays                                          Ordinary                   
                                                                             
United Utilities                                  Ordinary                   
                                                                             
GlaxoSmithKline                                   Ordinary                   
                                                                             
Majedie Asset Management UK Opps                  `A' Units                  
                                                                             
Royal Dutch Shell                                 `B' Shares                 
                                                                             
Antofagasta                                       Ordinary                   
                                                                             
Lloyds TSB Group                                  Ordinary