Net Asset Value(s)

British Empire Sec & Gen Tst PLC
21 December 2006

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

It is announced that the un-audited Net Asset Value of the above trust
(inclusive of accumulated income), managed by Asset Value Investors Limited, at
the close of business on 20 December 2006 was as follows:
Net Asset Value (pence per share)  - Debentures at par value:                                       448.38
Net Asset Value (pence per share)  - Debentures at market value:                                    444.28

Phoenix Administration Services Limited - Secretary


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