Top Ten Holdings

Personal Assets Trust PLC
5 May 2004


To:            RNS 
From:          Personal Assets Trust  
Date:          05 May 2004 

Listing Rule 21 

In accordance with paragraph 21.20 l (ii) of the Listing Rules Personal
Assets Trust announces its top ten holdings, including all holdings with a
value greater than 5% of its gross assets, as at 30 April 2004: 

                                                                        
        Top 10 Holdings                                                 
        Company                                         % Total Assets  

        US Strip 0% 150504                              40.2            
        US Strip 0% 150804                              13.5            
        RBS Grp                                         6.3             
        BP                                              5.2             
        HBOS                                            4.7             
        Shell                                           3.7             
        Barclays                                        3.7             
        Glaxosmithkline                                 3.2             
        Std Life Inv-Ins Shs                            3.1             
        Scottish & Newcastle                            2.5             

        Holdings greater than 5% of total fund value                    
        US Strip 0% 150504                              40.2            
        US Strip 0% 150804                              13.5            
        RBS Grp                                         6.3             
        BP                                              5.2             
 


For further information please contact: 

Gordon Hay Smith 
ISIS Asset Management plc 
0131 465 1000 
 
 
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