Quarterly Portfolio Update

Temple Bar Investment Trust Plc                        

As at close of business on 31 December 2005, the 10 largest investments in the
Company's portfolio were:

Top Ten                                % Gross Assets                        
                                                                             
Royal Dutch Shell B Shares             7.45                                  
                                                                             
Vodafone Group                         6.83                                  
                                                                             
GlaxoSmithKline                        6.59                                  
                                                                             
Royal Bank of Scotland                 4.87                                  
                                                                             
BP                                     4.56                                  
                                                                             
HSBC Holdings                          3.45                                  
                                                                             
Prudential                             3.06                                  
                                                                             
BT Group                               2.94                                  
                                                                             
Centrica                               2.87                                  
                                                                             
AstraZeneca                            2.57                                  
                                                                             
                                       45.19                                 

For enquiries please contact:

Martin Slade 020 7597 2000

Investec Investment Management Limited