Portfolio Update

THE THROGMORTON TRUST PLC

MONTH ENDED 31 May 2006

Information based on valuation dated 31 May 2006:

In accordance with Listing Rule LR15.4.11R, there are no investment companies/
trusts held by the Company which do not themselves have a stated investment
policy of restricting holdings in other investment companies/trusts to 15% of
their gross assets.

In accordance with UKLA Listing Rule LR15.4.11(2), the top ten holdings are
listed below. There are no holdings which exceed 5% of the Company's gross
assets.

Company                                    Stock                   %           
                                                                               
                                                                   Gross Assets
                                                                               
Headlam Group                              Ord 5p                  2.97        
                                                                               
Umeco                                      Ord 25p                 2.74        
                                                                               
Findel                                     Ord 5p                  2.63        
                                                                               
Aveva Group                                Ord 10p                 2.36        
                                                                               
Fenner                                     Ord 25p                 2.33        
                                                                               
Cranswick                                  Ord 10p                 1.92        
                                                                               
Enterprise                                 Ord 5p                  1.77        
                                                                               
Rathbone Brothers                          Ord 5p                  1.68        
                                                                               
Gyrus Group                                Ord 1p                  1.62        
                                                                               
Beazley Group                              Ord 5p                  1.54        

2 June 2006