Portfolio Update

Brunner Investment Trust PLC
3 September 2004

                      THE BRUNNER INVESTMENT TRUST PLC

                    TOP 10 HOLDINGS AS AT 31 AUGUST 2004

Stock Name                                   Market Value               %
                                                        £

Treasury 4.5 7/3/07                            24,798,601           10.41
BP Plc                                         12,684,730            5.32
HSBC Hldgs                                      6,583,689            2.76
Vodafone Grp                                    6,174,475            2.59
Royal Bk Scot                                   5,712,143            2.40
Barclays                                        4,961,442            2.08
GlaxoSmithKline                                 4,262,128            1.79
BHP Billiton                                    3,623,867            1.52
Standard Chartered                              3,522,105            1.48
GUS plc                                         2,990,963            1.26

Total Gross Assets                            238,228,129


Enquiries:

Kirsten Salt
Company Secretary
Tel: [phone]

3 September 2004




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