Net Asset Value(s)

NET ASSET VALUE

BRITISH PORTFOLIO TRUST

The unaudited net asset values for British Portfolio Trust plc. at close of
business 2 April 2012 was:

144.03p Capital only (undiluted)
142.23p Capital only (Diluted for treasury shares)
145.33p Including current year income (undiluted)
143.35p Including current year income (Diluted for treasury shares)

Notes:

1. Investments have been valued on a bid price basis.


2. Revenue items included in net asset value, with dividends payable deducted
on the ex-dividend date.