Portfolio Update

British Assets Trust PLC
14 December 2005

British Asset Trust plc

ALL DATA AS AT 30th November 2005

THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, http://
www.fandc.com/ FROM APPROXIMATELY 18th December 2005



Top ten equity holdings                                          %

           1      BP Plc                                         6.3
           2      Royal Dutch Shell                              4.6
           3      HSBC Holdings                                  4.6
           4      Vodafone Group                                 4.1
           5      Glaxo SmithKline                               3.9
           6      Royal Bank of Scotland Group                   2.8
           7      AstraZeneca                                    1.8
           8       HBOS                                          1.7
           9      Barclays                                       1.4
          10      Standard Life European Private Equity Trust    1.4

            Total                                               32.6



Country                                          %

UK                                              66.9
Europe (ex UK)                                   4.6
North America                                   10.9
Japan                                            5.2
Far East (ex Japan)                              3.1
Corporate Bonds                                  6.2
Cash                                             3.1

Total                                          100.0


Actual gearing:                                122.5%


Potential gearing:                             126.4%






                      This information is provided by RNS
            The company news service from the London Stock Exchange END

PFUBBBDDBBBGGUS