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 March, 2008:-

                                           Market         % of
                                            Value    Portfolio
                                            £'000
UK Listed Securities
British American Tobacco plc                  223         1.65
Welsh Industrial Investment Trust plc       1,155         8.54

Securities dealt in under AIM
Avesco Group plc                              306         2.26
Hallin Marine Subsea International plc      4,847        35.84
Plus Markets Group plc                        408         3.02
Portland plc                                  809         5.98
SpaceandPeople plc                          1,588        11.74

Securities dealt in under PLUS Market
Wheelsure Holdings plc                        300         2.22

Unlisted Securities
Audiogravity Holdings Ltd                     228         1.69
Gizmo Packaging Limited                       250         1.85
                                           ------        -----
                                           10,114        74.79
                                           ======        =====
B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

2nd April, 2008