Portfolio Update

Personal Assets Trust PLC
05 July 2005

               
To:            RNS
From:          Personal Assets Trust plc
Date:          05-Jul-05

Listing Rule 21

In accordance with paragraph 21.20 l (i) of the Listing Rules Personal Assets
Trust plc announces that, as at 30-Jun-05, it had investments in the following
investment companies which do not have stated investment policies to invest no
more than 15% of their gross assets in other listed investment companies:


Holding                                                    % of Gross Assets

The Second Alliance Trust                                               0.37
Independent Investment Trust plc                                        0.37
Advance UK Trust  plc                                                   0.36
                                                                        1.10

For further information please contact:

Gordon Hay Smith
F&C Asset Management plc
0131 465 1000


                      This information is provided by RNS
            The company news service from the London Stock Exchange