Portfolio Update

Value & Income Trust plc
04 July 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 June 2006 were as follows:


Quarterly Disclosure for VALUE & INCOME TRUST PLC

Assets With Values Over 5% of Gross Assets
NAME                                                                                         Market Value % Ttl Gross
                                                                                                          Assets

Top 10 Portfolio Assets
NAME                                                                                         Market Value % Ttl Gross
                                                                                                          Assets
VT GROUP PLC ORD GBP0.05
                                                                                             7,499,800         4.96
LEGAL & GENERAL GROUP ORD GBP0.025
                                                                                             5,771,250         3.81
171/173 CUMNOR HILL OXFORD
                                                                                             5,750,000         3.80
ROYAL DUTCH SHELL EUR0.07 'B' SHS
                                                                                             4,916,600         3.25
BP ORD USD0.25
                                                                                             4,508,075         2.98
BOC GROUP ORD GBP0.25
                                                                                             4,347,750         2.87
UNITS 1-7 BURLINGTON CENTRE ST ANNES ROAD WEST
                                                                                             4,300,000         2.84
ROTORK ORD GBP0.05
                                                                                             4,110,000         2.72
CHANNEL ST GALASHIELS
                                                                                             4,000,000         2.64
REACH ROAD DOVER
                                                                                             3,900,000         2.58



END


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