Top Ten Holdings

Personal Assets Trust PLC
03 February 2004

To:            RNS

From:          Personal Assets Trust plc

Date:          3 February 2004





Listing Rule 21



In accordance with paragraph 21.20 l (ii) of the Listing Rules Personal Assets
Trust plc announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 31 January 2004:




Company                                % Total Assets

US Treasury Strip 15/05/04                 41.4

Standard Life Sterling Liquidity Fund      11.8

Royal Bank of Scotland                      6.4

HBOS                                        5.0

BP                                          4.9

Barclays                                    3.8

Shell Transport & Trading                   3.7

GlaxoSmithKline                             3.4

Scottish & Newcastle                        2.5

BT Group                                    1.7

Total                                      84.6



For further information please contact:

Gordon Hay Smith

ISIS Asset Management plc

0131 465 1000


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