Portfolio Update

Brunner Investment Trust PLC
2 February 2005




                      THE BRUNNER INVESTMENT TRUST PLC                 
                                                                        
                     TOP 10 HOLDINGS AS AT 31 JANUARY 2005              
                                                                        
        Stock Name                               Market Value         % 
                                                       £                
                                                                        
        Treasury 4.5 7/3/07                         25,448,729    10.10 
        HSBC                                         8,523,945     3.38 
        BP                                           7,342,779     2.92 
        Royal Bank of Scotland                       7,248,980     2.88 
        Vodafone                                     6,700,222     2.66 
        GlaxoSmithKline                              6,307,941     2.50 
        Barclays                                     5,612,360     2.23 
        BHP Billiton                                 4,552,353     1.81 
        BG                                           4,141,676     1.64 
        Shell Transport and Trading                  4,019,009     1.60 
                                                                        
        Total Gross Assets                         251,894,836          
                                                                        
                                                                        
                                                                        
                                                                        
        Enquiries:                                                      
                                                                        
        Kirsten Salt                                                    
        Company Secretary                                               
        Tel: [phone]                                              
                                                                        
        2 February 2005                                                 


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