Net Asset Value(s)

British Empire Sec & Gen Tst PLC
03 July 2006

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

It is announced that the un-audited Net Asset Values of the above trust
(inclusive of accumulated income) managed by Asset Value Investors Limited, at
the close of business on 30 June 2006 were as follows:
Net Asset Value (pence per share)  - Debentures at par value:                                       424.48
Net Asset Value (pence per share)  - Debentures at market value:                                    420.29



Phoenix Administration Services Limited - Secretary






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