Portfolio Update

British Empire Sec & Gen Tst PLC
03 April 2006

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

In accordance with Listing Rule 15.4.11 (1), British Empire Securities and
General Trust plc announces that at 31 March 2006 it had the following holdings
in other UK listed investment companies (including listed investment trusts)
which do not have a stated investment policy to invest no more than 15% of their
gross assets in other listed UK investment companies (including listed
investment trusts):

Name                                                     Market Value (£)         Percentage of portfolio
The Alliance Trust Plc Ord 25p                                 15,469,580                            2.05
Hansa Trust 'A' Ordinary 5p                                    12,269,026                            1.62
Advance UK Trust Plc Ord 1p                                     7,456,206                            0.99
Second Alliance Trust Ord 25p                                   6,705,870                            0.89
F&C Private Equity Trust 'B' Shs                                2,734,473                            0.37
Total                                                          44,635,155                            5.92


In accordance with Listing Rule 15.4.11 (2), British Empire Securities and
General Trust plc announces that at 31 March 2006 the ten largest investments
were as follows:

Company                                                  Market value (£)         Percentage of portfolio
Treasury 7.75% 08/09/2006                                      42,592,500                            5.61
Treasury 7.5% 07/12/2006                                       30,603,000                            4.03
Investor AB 'A' SEK6.25                                        25,235,866                            3.33
Treasury 2% Index-Linked 19/07/2006                            24,903,000                            3.28
Deutsche Wohnen AG NPV                                         21,380,428                            2.83
Jardine Strategic Holdings USD0.5                              20,179,496                            2.68
Vivendi Universal EUR5.5                                       16,178,124                            2.13
Paladin Resources NPV                                          15,608,931                            2.07
The Alliance Trust Plc Ordinary 25p                            15,469,580                            2.05
Lundbergforetagen AB Series 'B' SEK10                          15,000,871                            1.98
Total                                                         227,151,796                           29.99

Except as stated above there were no investments with a value greater than 5% of
the Company's portfolio.

Phoenix Administration Services Limited - Secretary
3 April 2006


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