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 31st December, 2007:-

                                          Market           % of
                                           Value      Portfolio
                                           £'000
UK Listed Securities
British American Tobacco plc                 246           1.77
Welsh Industrial Investment Trust plc      1,155           8.31

Overseas Listed Securities
Mount Burgess Mining N.L.                    351           2.53

Securities dealt in under AIM
Avesco Group plc                             480           3.46
Egdon Resources plc                          616           4.43
Hallin Marine Subsea International plc     3,404          24.49
Image Scan Holdings plc                      349           2.51
Plus Markets Group plc                       590           4.24
SpaceandPeople plc                         2,381          17.13

Securities dealt in under PLUS Market
Wheelsure Holdings plc                       380           2.73
                                           -----          -----
                                           9,952          71.60
                                           =====          =====


B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

3nd January, 2008