Portfolio Update

Value & Income Trust plc
03 October 2006



              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 30 September 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                                         7,445,900             4.65
171/173 CUMNOR HILL OXFORD                           6,750,000             4.22
LEGAL & GENERAL GROUP                                6,412,500             4.01
ROYAL DUTCH SHELL                                    4,713,800             2.95
ROTORK                                               4,608,000             2.88
SCOTTISH & NEWCASTLE                                 4,560,000             2.85
UNITS 1-7 BURLINGTON CENTRE ST ANNES ROAD WEST       4,500,000             2.81
NATIONAL GRID TRANSCO                                4,297,365             2.69
BP                                                   4,161,300             2.60
CHANNEL ST GALASHIELS                                4,100,000             2.56




                      This information is provided by RNS
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