Portfolio Update

British Portfolio Trust PLC
5 July 2004


                                      BRITISH PORTFOLIO TRUST PLC

                                  TOP 10 HOLDINGS AS AT 30 JUNE 2004

Stock Name                                                                Market Value               %
                                                                                 £

BP                                                                           5,399,725             7.87
Vodafone                                                                     3,907,690             5.70
HSBC                                                                         3,743,743             5.46
GlaxoSmithkline                                                              3,383,132             4.93
Royal Bank of Scotland                                                       2,687,881             3.92
Shell Transport & Trading                                                    2,136,165             3.11
AstraZeneca                                                                  1,878,954             2.74
Barclays                                                                     1,865,603             2.72
Lloyds TSB                                                                   1,295,215             1.89
HBOS                                                                         1,092,020             1.59

Total Gross Assets                                                          68,588,326

No one holding exceeds 15% of the market value of the Portfolio.


Enquiries:

Peter Ingram
Company Secretary
Tel. [phone]

5 July 2004




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