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 June 2006:-

                                        Market            % of
                                         Value       Portfolio
                                          £000
UK Listed Securities
British American Tobacco plc               341            2.47
Welsh Industrial Investment Trust plc    1,085            7.88

Overseas Listed Securities
Mount Burgess Mining N.L.                  320            2.32

Securities dealt in under AIM
Egdon Resources plc                        337            2.45
Hallin Marine Subsea International plc   2,479           18.00
Image Scan Holdings plc                    641            4.65
InvestinMedia plc                          450            3.27
Plus Markets Group plc                     960            6.97
SpaceandPeople plc                       1,016            7.38
Transense Technologies plc                 462            3.35
                                         _____           _____
                                         8,091           58.74
                                         =====           =====

B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

3rd July 2006