Portfolio Update

Graphite Enterprise Trust PLC
08 January 2008

                         ANNOUNCEMENT TO STOCK EXCHANGE



                         GRAPHITE ENTERPRISE TRUST PLC



                                 8 January 2008





Graphite Enterprise Trust PLC ('Graphite Enterprise') announces that the ten
largest investments at 30 September 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

PAI Europe IV

Candover 2005 Fund

Euromezzanine V

Wagamama

Huntress

Deutsche Beteiligungs AG Fund IV

Fourth Cinven Fund





As previously announced the investment in Huntress has been sold and the FTSE
100 Call Option has been partially realised since 30 September 2007.  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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