Portfolio Update

British Portfolio Trust PLC
2 November 2004

                                      BRITISH PORTFOLIO TRUST PLC
                                 TOP 10 HOLDINGS AS AT 29 OCTOBER 2004

Stock Name                                            Market Value       %
                                                         £

BP                                                    5,610,348          8.00
HSBC                                                  4,706,679          6.71
Vodafone                                              4,514,474          6.44
GlaxoSmithkline                                       3,477,108          4.96
Royal Bank of Scotland                                2,716,655          3.87
Shell Transport & Trading                             2,264,229          3.23
Barclays                                              2,112,827          3.01
AstraZeneca                                           1,695,159          2.42
NHP                                                   1,387,622          1.98
Lloyds TSB                                            1,292,966          1.84

Total Gross Assets                                   70,144,634


Enquiries:

Peter Ingram
Company Secretary
Tel. [phone]

2 November 2004


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