Portfolio Update

Prodesse Investment Limited
06 July 2006




Prodesse Investment Limited ('Prodesse')

6 July 2006

Ten Largest Investments

Prodesse Investment Limited announces details of its ten largest investments
as at 30 June 2006

Description            Market Value US $'000s   % of portfolio    Current coupon
FNMA A48575                      176,203              9.00%             6.00%
FNMA 850568                      166,605              8.51%             5.50%
FNMA 2005-47 FG                   86,068              4.40%             5.82%
FHLMC 2005-96 UA                  80,742              4.13%             5.50%
FHLMC A42128                      65,256              3.33%             5.50%
FHLMC 2961 FC                     56,506              2.89%             5.65%
FNMA 256233                       50,120              2.56%             6.00%
FNMA 6.15                         50,016              2.56%             6.15%
FHLMC 3061 DA                     49,895              2.55%             5.50%
FNMA 2006-58 FY                   45,763              2.34%             5.75%



Enquiries:

RBSI Fund Services (Guernsey) Limited:

Sara Radford/Paul Smith                01481 743004





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