Portfolio Update

British Portfolio Trust PLC
02 November 2004




                             BRITISH PORTFOLIO TRUST PLC



List of Top Ten Investments and all Holdings over 5% of Gross Assets at 29
October 2004, announced in accordance with Listing Rule 21.20 (l) (ii).



      Holding                                                                 % of Gross Assets
BP                                                                                   8.00
HSBC                                                                                 6.71
Vodafone                                                                             6.44
GlaxoSmithkline                                                                      4.96
Royal Bank of Scotland                                                               3.87
Shell Transport & Trading                                                            3.23
Barclays                                                                             3.01
AstraZeneca                                                                          2.42
NHP                                                                                  1.98
Lloyds TSB                                                                           1.84







Enquiries :



Peter Ingram
Company Secretary
Tel. [phone]

2 November 2004








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