Portfolio Update

Standard Life Equity Income Tst PLC
02 October 2007

         STANDARD LIFE EQUITY INCOME TRUST PLC - 10 LARGEST INVESTMENTS





The company announces that the ten largest investments as at close of business
on 30 September 2007 were as follows:




Assets With Values Over 5% of Gross Assets
NAME                                                                           Market Value      % Ttl Gross Assets
BP ORD USD0.25                                                                    9,563,277                    6.73
ROYAL DUTCH SHELL EUR0.07 'A' & 'B' SHS                                           8,004,765                    5.64
VODAFONE GROUP USD0.11428571                                                      8,002,911                    5.63

Top 10 Portfolio Assets
NAME                                                                           Market Value      % Ttl Gross Assets
BP ORD USD0.25                                                                    9,563,277                    6.73
ROYAL DUTCH SHELL EUR0.07 'A' & 'B' SHS                                           8,004,765                    5.64
VODAFONE GROUP USD0.11428571                                                      8,002,911                    5.63
ROYAL BANK OF SCOTLAND ORD GBP0.25                                                5,427,424                    3.82
RIO TINTO ORD GBP0.10                                                             5,391,461                    3.80
ANGLO AMERICAN ORD USD0.54945                                                     5,020,132                    3.53
GLAXOSMITHKLINE ORD GBP0.25                                                       4,851,182                    3.42
HSBC HOLDINGS ORD USD0.50 (UK REGD)                                               4,241,409                    2.99
HBOS ORD GBP0.25                                                                  3,999,447                    2.82
XSTRATA COM STK USD0.50                                                           3,703,188                    2.61




END


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