Portfolio Update

British Portfolio Trust PLC
07 May 2004


                          BRITISH PORTFOLIO TRUST PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30 April
2004, announced in accordance with Listing Rule 21.20 (l) (ii).

                     Holding                              % of Gross Assets
Vodafone                                                         8.10
BP Plc                                                           7.84
HSBC                                                             5.35
GlaxoSmithKline                                                  5.13
Royal Bank Of Scotland                                           4.15
Shell Transport & Trading                                        2.98
Barclays                                                         2.93
AstraZeneca                                                      2.90
Lloyds TSB                                                       1.83
HBOS                                                             1.69

Enquiries :

Peter Ingram
Company Secretary
Tel. [phone]


7 May 2004



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