Portfolio Update

Value & Income Trust plc
03 January 2007


              VALUE AND INCOME TRUST PLC - 10 LARGEST INVESTMENTS



The group announces that the ten largest investments (equities and properties)
as at close of business on 31 December 2006 were as follows:

Assets With Values Over 5% of Gross Assets

NAME                                                                                    Market      % Ttl Gross
                                                                                         Value           Assets
Top 10 Portfolio Assets

NAME                                                                                    Market      % Ttl Gross
                                                                                         Value           Assets
VT GROUP PLC                                                                         7,318,850             4.47
LEGAL & GENERAL GROUP                                                                7,087,500             4.33
171/173 CUMNOR HILL OXFORD                                                           6,750,000             4.12
ROTORK                                                                               5,010,000             3.06
NATIONAL GRID TRANSCO                                                                4,744,806             2.90
ROYAL DUTCH SHELL                                                                    4,654,000             2.84
RESTAURANT GROUP                                                                     4,638,750             2.83
BT GROUP PLC                                                                         4,522,500             2.76
UNITS 1-7 BURLINGTON CENTRE ST ANNES ROAD WEST                                       4,500,000             2.75
SCOTTISH & NEWCASTLE                                                                 4,476,000             2.73




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