Portfolio Update

Standard Life Equity Income Tst PLC
03 October 2006


         STANDARD LIFE EQUITY INCOME TRUST PLC - 10 LARGEST INVESTMENTS


The company announces that the ten largest investments as at close of business
on 30 September 2006 were as follows:


Assets With Values Over 5% of Gross Assets

NAME                                                        Market Value         % Ttl Gross Assets

BP                                                                  9,858,294.30                  7.22
HSBC HOLDINGS                                                       8,721,794.49                  6.39
ROYAL DUTCH SHELL                                                   7,448,849.81                  5.46


Top 10 Portfolio Assets

NAME                                                        Market Value         % Ttl Gross Assets

BP                                                                  9,858,294.30                  7.22
HSBC HOLDINGS                                                       8,721,794.49                  6.39
ROYAL DUTCH SHELL                                                   7,448,849.81                  5.46
GLAXOSMITHKLINE                                                     6,343,513.56                  4.65
ROYAL BANK OF SCOTLAND GROUP                                        5,753,532.18                  4.21
VODAFONE GROUP                                                      5,571,725.90                  4.08
ANGLO AMERICAN                                                      4,385,455.69                  3.21
HBOS                                                                4,312,581.14                  3.16
LLOYDS TSB GROUP                                                    2,944,067.69                  2.16
AVIVA                                                               2,442,396.24                  1.79



END


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