Portfolio Update

Gresham House PLC
05 April 2004



Gresham House plc

36 Elder Street, London E1 6BT

Listing rule 21.20(1) (ii)

In accordance with 21.20(1) (ii) of the Listing Rules we detail below a list of
the 10 largest investment (which include all those with a value greater than 5%
of the portfolio) as at 31st March 2004:-

                                                Market              % of
                                                Value             Portfolio
                                                
                                                £'000
UK Listed Securities

British American Tobacco plc                     205                 2.83
Hornby plc                                       289                 3.99
Molins plc                                       723                10.00
Morgan Sindall plc                               484                 6.69
Welsh Industrial Investment Trust plc          1,050                14.51

Overseas Listed Securities

Mount Burgess Mining N.L.                        196                 2.71

Securities dealt in under AIM

Image Scan Holdings plc                          715                 9.88
InvestInMedia plc                                234                 3.23
Transense Technologies plc                       403                 5.57

Unlisted securities

SpaceandPeople Limited                           168                 2.33
                                              
                                                ____                _____
                                               4,477                61.74
                                                ____                _____

B J Hallett
Director & Company Secretary
Gresham House plc
Telephone: [phone]

05th April 2004


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