Portfolio Update

Standard Life Equity Income Tst PLC
03 January 2008




         STANDARD LIFE EQUITY INCOME TRUST PLC - 10 LARGEST INVESTMENTS


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




Assets With Values Over 5% of Gross Assets

NAME                                            Market Value  % Ttl Gross Assets
BP ORD USD0.25                                    10,753,699                7.67
VODAFONE GROUP USD0.11428571                       8,515,278                6.07
ROYAL DUTCH SHELL EUR0.07 'A' & 'B' SHS            8,327,819                5.94


Top 10 Portfolio Assets

NAME                                            Market Value  % Ttl Gross Assets
BP ORD USD0.25                                    10,753,699                7.67
VODAFONE GROUP USD0.11428571                       8,515,278                6.07
ROYAL DUTCH SHELL EUR0.07 'A' & 'B' SHS            8,327,819                5.94
RIO TINTO ORD GBP0.10                              6,780,132                4.84
ROYAL BANK OF SCOTLAND ORD GBP0.25                 5,419,122                3.87
GLAXOSMITHKLINE ORD GBP0.25                        4,783,856                3.41
ANGLO AMERICAN ORD USD0.54945                      4,701,127                3.35
XSTRATA COM STK USD0.50                            4,052,503                2.89
HSBC HOLDINGS ORD USD0.50 (UK REGD)                3,986,575                2.84
IMPERIAL TOBACCO ORD GBP0.10                       3,633,104                2.59


END




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