Portfolio Update

European Assets Trust NV
16 February 2006


European Assets Trust NV


ALL DATA AS AT 31st January 2006


THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, http://
www.fandc.com/ FROM APPROXIMATELY 18th February 2006



Top ten equity holdings                                            %

1                            Andritz                               4.2
2                            Neochimiki L.V. Lavrentiadis          4.2
3                            Neopost                               4.2
4                            Anglo Irish Bank                      3.5
5                            Logitech                              3.4
6                            OKO Bank                              3.4
7                            Latecoere                             3.2
8                            Salzgitter                            3.2
9                            Nexity                                3.2
10                           Lindt & Spruengli                     3.2

Total                                                              35.7






Country                                %

France                                 18.6
Ireland                                15.3
Spain                                  11.4
Switzerland                            8.9
Cash                                   8.7
Italy                                  7.4
Germany                                6.8
Finland                                6.0
Greece                                 4.2
Austria                                4.2
Other                                  8.5



Total                                  100.0






Actual gearing:                  98.8
Potential gearing:               107.9









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