Top Ten Holdings

Artemis Alpha Trust PLC
03 May 2006



ARTEMIS ALPHA TRUST PLC (the 'Company')

TEN LARGEST INVESTMENTS



In accordance with Listing Rule 15.4.11R(2), the Company announces that at 30
April 2006, the ten largest investments in its portfolio were as follows:

Company                                                     Percentage of gross
                                                                         assets

ARTEMIS INV MGMT NEW ORD GBP                                               5.43

SOLANA RESOURCES COM CAD NPV                                               4.54

GTL RESOURCES                                                              3.49

ONDINE BIOPHARMA                                                           3.34

MCCROFT TOBACCO HOLDING COM USD                                            3.32

AFREN                                                                      3.20

REVUS ENERGY NOK0.25                                                       2.93

SALAMANDER ENERGY ORD GBP0.10                                              2.75

WHITE NILE ORD GBP0.001                                                    2.72

NEW STAR ASSET MANAGEMENT ORD GBP0.05                                      2.60





BNP Paribas Secretarial Services Limited

Secretary



3 MAY 2006






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