Top Ten Holdings

Shires Income PLC
04 January 2006


4 January 2006

SHIRES INCOME PLC

In accordance with UKLA Listing Rule 21.20 (1) (ii), Shires Income PLC announces
that at 31 December 2005 the ten largest investments held were as follows:

Company                                                  £               % of
                                                                    Total Assets

Shires Smaller Companies                        15,874,190                13.2
Peninsular & Oriental Deferred Stock             7,456,000                 6.2
Severn Trent                                     4,878,000                 4.0
Gen Accident Prefs                               4,654,125                 3.8
Legal & General                                  4,270,000                 3.5
Bradford & Bingley Ord                           4,105,000                 3.4
Friends Provident Ord                            4,079,465                 3.4
BBA Group                                        3,990,864                 3.3
Lloyds TSB Group Ord                             3,908,000                 3.2
Abbey National 10.375% Pref                      3,531,250                 2.9


Shires Income plc is managed by Glasgow Investment Managers Limited


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