Portfolio Update

British Portfolio Trust PLC
04 August 2004


                         BRITISH PORTFOLIO TRUST PLC



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




                     Holding                        % of Gross Assets
BP                                                        8.51
Vodafone                                                  5.74
HSBC                                                      5.48
GlaxoSmithkline                                           5.03
Royal Bank of Scotland                                    3.89
Shell Transport & Trading                                 3.13
AstraZeneca                                               2.78
Barclays                                                  2.72
Lloyds TSB                                                1.84
HBOS                                                      1.69




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