Interim Management Statement

British Portfolio Trust PLC
12 February 2008


British Portfolio Trust PLC

Interim Management Statement

For the quarter ended 31 January 2008

This interim management statement relates to the quarter from 1 November 2007 to
31 January 2008 and contains information for that period unless otherwise
stated. This statement is produced to provide information in accordance with the
UK Listing Authority's Disclosure and Transparency Rules.

Investment objective

The objective of British Portfolio Trust plc is to provide growth in capital and
income through a policy of investing in UK  listed companies.  Such equities
will consist mainly of shares in FTSE 100 companies, but will also include
medium-sized and smaller companies.

Portfolio

Top ten holdings at 31 January 2008 and percentage of total gross assets
                                                                         £                          %
Royal Dutch Shell                                                          4,053,895               5.14
Vodafone                                                                   4,047,737               5.13
BP                                                                         3,914,116               4.96
Energy XXI                                                                 3,274,643               4.15
GlaxoSmithKline                                                            3,012,117               3.82
HSBC Holdings                                                              2,517,525               3.19
Xstrata                                                                    2,409,120               3.05
Anglo American                                                             2,070,475               2.63
BG Group                                                                   2,015,302               2.56
BT Group                                                                   1,984,976               2.52


Material events and transactions

During the period 416,000 ordinary shares were purchased into treasury and 5,810
ordinary shares were purchased for cancellation.

Financial Performance  to 31 January 2008

                                                      % change
                                    3m           6m           1yr           3yrs           5yrs
Share price                     -13.67       -11.36          -7.72           31.44           97.68
Net Asset Value                 -12.26         -8.93          -4.68         32.09           101.68

Benchmark*                      -13.14         -8.79          -6.59      22.89             74.19


Source: Datastream

Total return with net dividends reinvested and net of fees.

* FTSE All-Share Total Return


Financial position at 31 January and 7 February 2008

                                            31 January                            7 February
Total gross assets                          £78,869,512                          £77,401,625
Net assets                                  £72,511,772                          £70,976,540
Share price                                    164p                                 164.7p
Net asset value1                              175.53p                              172.04p
Net asset value2                              175.53p                              172.04p

Discount3                                      -6.6%                                -4.3%
Gearing                                         0%                                    0%
4
Historic Dividend Yield                        2.5%                                  2.5%



1 Debt at book value

2Debt at market value

 Net asset values are calculated and announced daily.

3 The discount is the difference between the share price and the NAV (debt at
book value) per share expressed as a percentage of the NAV per share.

4 Actual gearing - net of cash.





Company Information


Launch date                            2001
EPIC                                   BPO
Year end                               31 October
Report and Accounts                    Final posted January, half-yearly posted June
AGM                                    February
Dividends                              September and March
Price Information                      Financial Times, The Daily Telegraph,  www.allianzgi.co.uk





Investor information



Further up to date information, including Net Asset Values and share prices, and
the latest available factsheets and portfolio information, is provided on the
Manager's website, which can be accessed via  (www.britishportfoliotrust.co.uk)
or www.allianzgi.co.uk .  Investor Services can be contacted on 020 7065 1407
and information can also be obtained from the Manager's helpline on 0800 317
573.


By order of the Board.
British Portfolio Trust PLC

155 Bishopsgate
London EC2M 3AD

12 February  2008


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