Portfolio Update

Standard Life Equity Income Tst PLC
03 July 2007




         STANDARD LIFE EQUITY INCOME TRUST PLC - 10 LARGEST INVESTMENTS


The company announces that the ten largest investments as at close of business
on 30 June 2007 were as follows:



Assets With Values Over 5% of Gross Assets

NAME                                          Market Value    % Ttl Gross Assets
BP                                               9,177,220                  6.82
ROYAL DUTCH SHELL                                7,445,099                  5.54
VODAFONE GROUP                                   6,871,444                  5.11



Top 10 Portfolio Assets

NAME                                          Market Value    % Ttl Gross Assets
BP                                               9,177,220                  6.82
ROYAL DUTCH SHELL                                7,445,099                  5.54
VODAFONE GROUP                                   6,871,444                  5.11
ROYAL BANK OF SCOTLAND                           5,910,049                  4.39
GLAXOSMITHKLINE                                  5,422,901                  4.03
ANGLO AMERICAN                                   4,461,204                  3.32
RIO TINTO                                        4,407,403                  3.28
HBOS                                             3,892,479                  2.89
HSBC HOLDINGS                                    3,875,034                  2.88
BARCLAYS                                         3,540,622                  2.63


END




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