Portfolio Update

British Empire Sec & Gen Tst PLC
01 February 2007

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 January 2007 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
Alliance Trust Plc Ord 2.5p                  22,456,158                   2.92
Hansa Trust Plc 'A' Ordinary 5p               8,035,492                   1.05
Advance UK Trust Plc Ord 1p                   5,517,318                   0.72
Total                                        36,008,968                   4.69


Phoenix Administration Services Limited - Secretary
1 February 2007


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