Portfolio Update

British Assets Trust PLC
03 July 2007


To:                RNS

From:              British Assets Trust plc

Date:              03-Jul-07



Listing Rule 15



In accordance with paragraph 15.4.11(2) of the Listing Rules British Assets
Trust plc announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 29-Jun-07:




British Assets Trust
Top 10 Holdings
Company                                            % Total Assets
BP                                                 5.5
Vodafone                                           4.2
Glaxosmithkline                                    3.3
HSBC                                               3.0
RBS Grp                                            2.9
Royal Dutch Shell B                                2.7
Astrazeneca                                        2.2
Anglo American                                     2.1
Standard Life Euro                                 2.0
Scottish & Southern                                2.0
Holdings greater than 5% of total fund value
BP                                                 5.5





For further information please contact:



Michael Campbell

F&C Investment Business Limited

0207 628 8000







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