Top Ten Holdings

Shires Income PLC
03 July 2007

3 July 2007


SHIRES INCOME PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Income PLC announces
that at 30 June 2007 the ten largest investments held were as follows:

Company                                                               £        % of
                                                                           Total Assets

Shires Smaller Companies                                     11,430,000        9.2
Gen Accident Prefs                                            7,701,375        6.2
Ecclesiastical Ins                                            6,438,600        5.2
Ryl & SunAlliance  Pref Shares                                5,512,500        4.5
Legal & General Group                                         5,250,000        4.2
Pennon Group                                                  5,170,200        4.2
Lloyds TSB Group                                              5,138,375        4.1
Babcock International                                         4,855,500        3.9
Vodafone Group                                                4,853,238        3.9
Rio Tinto                                                     4,782,500        3.9


Shires Income plc is managed by Glasgow Investment Managers Limited




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