Portfolio Update

British Empire Sec & Gen Tst PLC
04 July 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 30 June 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

Alliance Trust Plc Ord 2.5p                                    21,165,044                            2.99
Hansa Trust 'A' Ordinary 5p                                     8,319,262                            1.19
Advance UK Trust Plc Ord 1p                                     4,739,878                            0.67
F&C Private Equity Trust 'B' Shs                                3,852,886                            0.55


Total                                                          38,077,070                            5.40


In accordance with Listing Rule 15.4.11 (2), British Empire Securities and
General Trust plc announces that at 30 June 2006 the ten largest investments
were as follows:

Company                                                  Market value (£)         Percentage of portfolio

Treasury 7.5% 07/12/2006                                       65,780,000                            9.30
Treasury 7.75% 08/09/2006                                      65,364,000                            9.24
Investor AB 'A' SEK6.25                                        27,509,776                            3.89
Treasury 2% Index-Linked 19/07/2006                            25,048,800                            3.54
Alliance Trust Plc Ordinary 2.5p                               21,165,044                            2.99
Deutsche Wohnen AG (Acceptance Line)                           19,002,102                            2.74
Jardine Strategic Holdings USD0.5                              18,408,692                            2.63
Sofina SA Common NPV                                           15,443,775                            2.18
Hutchison Whampoa HKD0.25                                      15,145,494                            2.15
Tokyu Corporation JPY50                                        14,894,370                            2.11

Total                                                         287,762,053                           40.77

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

Phoenix Administration Services Limited - Secretary
4 July 2006


                      This information is provided by RNS
            The company news service from the London Stock Exchange