Portfolio Update

Standard Life Equity Income Tst PLC
03 April 2007



         STANDARD LIFE EQUITY INCOME TRUST PLC - 10 LARGEST INVESTMENTS


The company announces that the ten largest investments as at close of business
on 31 March 2007 were as follows:


Assets With Values Over 5% of Gross Assets

NAME                                                                Market Value    % Ttl Gross Assets

BP                                                                     9,350,135                  6.43


Top 10 Portfolio Assets

NAME                                                                Market Value    % Ttl Gross Assets

BP                                                                     9,350,135                  6.43
ROYAL BANK OF SCOTLAND                                                 6,527,896                  4.49
GLAXOSMITHKLINE                                                        6,461,041                  4.44
VODAFONE GROUP                                                         6,175,614                  4.25
ROYAL DUTCH SHELL                                                      5,963,751                  4.10
HSBC HOLDINGS                                                          5,369,307                  3.69
HBOS                                                                   4,602,581                  3.16
ANGLO AMERICAN                                                         4,513,368                  3.10
BARCLAYS                                                               3,604,921                  2.48
LLOYDS TSB GROUP                                                       3,055,937                  2.10


END


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