Net Asset Value(s)

British Empire Sec & Gen Tst PLC
26 July 2005

BRITISH EMPIRE SECURITIES AND GENERAL TRUST plc

Net Asset Value

The Company announces that the unaudited Net Asset Values per share at the close

of business on 25 July 2005 were as follows:
Ordinary                                              361.35
Debentures at market value                            356.64

Phoenix Administration Services Limited - Secretary






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