Portfolio Update

British Empire Sec & Gen Tst PLC
04 January 2006

BRITISH EMPIRE SECURITIES AND GENERAL TRUST PLC

In accordance with Listing Rule 15.4.11 (1), British Empire Securities and
General Trust plc announces that at 31 December 2005 it had the following
holdings in other UK listed investment companies (including listed investment
trusts) which do not have a stated investment policy to invest no more than 15%
of their gross assets in other listed UK investment companies (including listed
investment trusts):

Name                                                     Market Value (£)         Percentage of portfolio
Hansa Trust 'A' Ordinary                                       11,761,216                            1.67
The Alliance Trust Plc Ord 25p                                  9,389,021                            1.33
Advance UK Trust Plc Ord 1p                                     6,912,914                            0.98
F&C Private Equity Trust 'B' Shs                                1,572,561                            0.22
Total                                                          29,635,712                            4.20


In accordance with Listing Rule 15.4.11 (2), British Empire Securities and
General Trust plc announces that at 31 December 2005 the ten largest investments
were as follows:

Company                                                  Market value (£)         Percentage of portfolio
Treasury 7.5% 07/12/2006                                       30,904,500                            4.38
Treasury 7.75% 08/09/2006                                      22,544,500                            3.20
Mitsubishi Estates Co Ltd                                      20,736,275                            2.94
Jardine Strategic Holdings USD0.5                              19,832,663                            2.81
Prospect Japan Fund Ltd USD0.001                               19,808,256                            2.81
PD Ports Plc Ord 10p (Assented)                                18,612,750                            2.64
Investor AB 'A' SEK6.25                                        16,911,995                            2.40
Deutsche Wohnen AG NPV                                         15,695,389                            2.23
JPMorgan Fleming Japanese Smaller Cos Ord                      14,545,879                            2.06
10p
Fording Canadian Coal Trust Units                              12,683,760                            1.80
Total                                                         192,275,967                           27.27

Except as stated above there were no investments with a value greater than 5% of
the Company's portfolio.

Phoenix Administration Services Limited - Secretary
4 January 2006


                      This information is provided by RNS
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