Portfolio Update

Graphite Enterprise Trust PLC
01 October 2007

                         ANNOUNCEMENT TO STOCK EXCHANGE



                         GRAPHITE ENTERPRISE TRUST PLC



                                 1 October 2007





Graphite Enterprise Trust PLC ('Graphite Enterprise') announces that the ten
largest investments at 30 June 2007, the most recent date at which the portfolio
valuations have been reviewed by the Directors, were as set out below.  All
investments representing more than 5% of the gross assets of Graphite Enterprise
are included.



Investments




Graphite Capital Partners VI
FTSE 100 Call Option
Doughty Hanson & Co IV
Wagamama
PAI Europe IV
Euromezzanine V
Candover 2005 Fund
Huntress
OPD Group
Charterhouse Capital Partners VII







Graphite Enterprise announces its net asset value quarterly, with any movements
that are material to the Company announced as they occur.














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