Net Asset Value(s)

British Empire Sec & Gen Tst PLC
03 January 2006

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

The Company announces that the un-audited Net Asset Values per share of the
above trust, managed by Asset Value Investors Ltd, at the close of business on
30 December 2005 were as follows:
Ordinary                                              428.43
Debentures at market value                            423.49

NB:  The Net Asset Value above has been calculated using mid-market prices.
With effect from 1 January 2006, all future announcements of Net Asset Values
will be calculated using bid prices.

Phoenix Administration Services Limited - Secretary








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