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UK Select Trust Ld (UKT)

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Tuesday 06 May, 2008

UK Select Trust Ld

Interim Management Statement

UK Select Trust Limited
06 May 2008

UK Select Trust Limited

Interim Management Statement for the quarter to 31 March 2008


                                                        31 March        31 December 2007     % movement
                                                            2008
Ordinary Shares
NAV (p)                                                   152.35                  155.65         (2.12)
Share Price (p)                                           138.75                  128.00           8.40
Discount (%)                                                8.93                   17.76        (49.72)
Total net assets (£'000)                                  31,495                  32,239         (2.31)

FTSE All-Share Index                                    2,927.05                3,286.67        (10.94)





Material Events

There have been no material events during the period from 31 December 2007 to 31
March 2008.





Material Transactions

On 13 March 2008, the Company bought back 39,500 ordinary shares of 10p each at
141 pence per share, to be held in Treasury.  The purchase represents
approximately 0.19% of the Company's issued ordinary share capital.



A final dividend of 2.55p was proposed by the Board of Directors on 13 March
2008 for the year ended 31 December 2007, payable on 2 May 2008.  Shares were
marked ex-dividend on 19 March 2008 and the record date for the final dividend
was 25 March 2008.





Top 10 Holdings
Company                                            % of net assets as at 31     % of net assets as at 31
                                                                 March 2008                December 2007
BP Plc                                                                 8.03                         3.28
BG Group Plc                                                           7.02                         4.74
Vodafone Group Plc                                                     5.91                         9.14
Persimmon Plc                                                          5.47                         1.91
KSK Power Venture Plc                                                  5.43                         5.90
Rentokil Initial Plc                                                   5.24                         1.61
Berkeley Group Holdings Plc                                            4.40                         5.19
Barclays Plc                                                           4.13                            -
Lloyds TSB Group Plc                                                   4.12                         2.21
Hardy Oil & Gas Plc                                                    3.66                         4.87





Gearing

There have been no material changes in the level of gearing exercised by the
Company for the period from 31 December 2007 to 31 March 2008.



The gearing is by way of a revolving loan of £5,200,000 from Lloyds TSB Scotland
Plc. The loan was renewed on 19 March 2008 for three months and is due for
renewal on 19 June 2008.


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