Portfolio Update

British Portfolio Trust PLC
4 August 2004


                             BRITISH PORTFOLIO TRUST PLC
                          TOP 10 HOLDINGS AS AT 30 JULY 2004

Stock Name                                   Market Value               %
                                                   £

BP                                              5,721,269             8.51
Vodafone                                        3,859,147             5.74
HSBC                                            3,686,674             5.48
GlaxoSmithkline                                 3,386,163             5.03
Royal Bank of Scotland                          2,616,791             3.89
Shell Transport & Trading                       2,104,479             3.13
AstraZeneca                                     1,869,080             2.78
Barclays                                        1,826,881             2.72
Lloyds TSB                                      1,236,717             1.84
HBOS                                            1,140,021             1.69

Total Gross Assets                             67,265,239


Enquiries:

Peter Ingram
Company Secretary
Tel. [phone]

4 August 2004


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