Portfolio Update

British Empire Sec & Gen Tst PLC
01 December 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 November 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                       22,179,491               3.02

Hansa Trust 'A' Ordinary 5p                        7,208,504               0.98

Advance UK Trust Plc Ord 1p                        5,166,216               0.71

Total                                             34,554,211               4.71


Phoenix Administration Services Limited - Secretary
1 December 2006


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