Portfolio Update

British Empire Sec & Gen Tst PLC
02 March 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 28 February 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                                 12,300,444                           1.64%
Hansa Trust 'A' Ordinary 5p                                    11,355,145                           1.52%
Advance UK Trust Plc Ord 1p                                     7,231,395                           0.97%
F&C Private Equity Trust 'B' Shs                                1,595,269                           0.21%
Total                                                          32,482,253                           4.34%


Phoenix Administration Services Limited - Secretary
2 March 2006


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