Portfolio Update

British Portfolio Trust plc

Fund Information Update

Net Asset Value (capital only)                   141.73p
Net Asset Value (including income)*              143.04p
Share Price                                      131.00p
Gearing (including income)***                       4.6%
Net Yield                                           3.1%
Discount to NAV (including income)                  8.4%
Total Assets (including current year 
revenue)                                          £40.6m
Issued Capital - Ordinary Shares**            28,379,268
                                                        
* Includes net revenue of 1.31p                         
** Excludes 4,554,664 shares held in Treasury           
*** Gearing is calculated using debt at par, less cash  
and cash equivalents as a percentage of net assets.     

Ten largest investments (as at 20.03.2012)

                               % of portfolio

Royal Dutch Shell `B' Shares        8.9
Vodafone Group                      8.6
HSBC Holdings                       6.1
Tullow Oil                          5.0
GlaxoSmithKline                     4.9
Centrica plc                        4.3
Antofagasta                         4.0
UBM plc                             3.6
3I Infrastructure                   3.1
Imperial Tobacco                    3.1

Sector Analysis (as at 30.03.2012)                  
                                   % of total assets
                                                    
Oil & Gas Producers                            15.37
Banks                                          10.61
Pharmaceuticals & Biotechnology                 9.85
Mobile Telecommunications                       8.59
Media                                           6.35
Tobacco                                         6.05
Gas, Water & Multi-utilities                    4.31
Mining                                          3.95
General Retailers                               3.90
Non-life Insurance                              3.68
Software & Computer Services                    3.62
Equity Investment Instruments                   3.09
Food Producers                                  3.06
Support Services                                2.42
Industrial Engineering                          2.23
Aerospace & Defence                             2.20
Electronic & Electrical Equipment               2.02
Life Insurance                                  1.98
Financial Services                              1.63
Real Estate Investment & Services               1.55
Oil Equipment, Services & Distribution          1.52
Chemicals                                       1.02
Technology Hardware & Equipment                 0.97
Net Current Assets                              0.03
                                              ------
TOTAL                                         100.00
                                              ------

Enquiries:

Simon White
BlackRock Investment Management (UK) Limited

Telephone: [phone]

Date: 4 April 2012