10 Largest Investments

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 March 2005 were as follows:



Company                                          % of Gross
                                               Assets of the
                                                   Group
KELDA GROUP                                              4.54
SHELL TRANSPORT & TRADING                                4.51
SCOTTISH & SOUTHERN ENERGY                               4.02
LEGAL & GENERAL GROUP                                    3.87
171/173 CUMNOR HILL OXFORD                               3.80
AWG PLC                                                  3.77
VT GROUP PLC                                             3.71
BURLINGTON CENTRE, ST ANNES                              2.89
CHANNEL ST GALASHIELS                                    2.81
BRITISH VITA                                             2.69
TOTAL                                                   36.61

END