Portfolio Update

Second Advance Value Realisation Co
04 October 2004


Second Advance Value Realisation Company Limited announces that its top ten
holdings as at 30 September 2004 were as follows:-

Chapelthorpe plc
Macfarlane Group plc
Sherwood Group plc
Wireless Group plc
Gowrings plc
LTG Technologies plc
Aminex plc
API Group plc
Homestyle Group plc
European Group plc

No other investments were held on 30 September 2004 which represented more than
5% of gross assets.



                      This information is provided by RNS
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