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 2006:-

                                             Market           % of
                                              Value      Portfolio
                                              £'000
UK Listed Securities
British American Tobacco plc                    349           2.36
Welsh Industrial Investment Trust plc           875           5.92

Overseas Listed Securities
Mount Burgess Mining N.L.                       361           2.44

Securities dealt in under AIM
Egdon Resources plc                             311           2.10
Hallin Marine Subsea International plc        2,960          20.01
Image Scan Holdings plc                         460           3.11
InvestinMedia plc                               435           2.94
Plus Markets Group plc                        1,154           7.80
SpaceandPeople plc                            1,080           7.30
Transense Technologies plc                      575           3.89
                                              -----          -----
                                              8,560          57.87
                                              =====          =====
B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

3rd April 2006