Portfolio Update

Gresham House plc

36 Elder Street, London E1 6BT


Listing Rule 21.20(l)(ii)

In  accordance with 21.20(l)(ii) of the Listing Rules we detail below a list  of
the 10 largest investments (which include all those with a value greater than 5%
of the portfolio) as at 30th September 2006:-

                                       Market           % of
                                        Value      Portfolio
                                        £'000
UK Listed Securities
British American Tobacco plc              361           2.58
Welsh Industrial Investment Trust plc   1,383           9.90

Securities dealt in under AIM
Byotrol plc                               255           1.82
Egdon Resources plc                       423           3.03
Hallin Marine Subsea International plc  2,479          17.76
Image Scan Holdings plc                   559           4.00
InvestinMedia plc                         465           3.33
Plus Markets Group plc                    624           4.47
SpaceandPeople plc                        953           6.82
Transense Technologies plc                546           3.91
                                        -----          -----
                                        8,048          57.62
                                        =====          =====
B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

3rd October 2006