Portfolio Update

British Portfolio Trust PLC
2 February 2005

                                                                       
                         BRITISH PORTFOLIO TRUST PLC                   
                    TOP 10 HOLDINGS AS AT 31 JANUARY 2005              
                                                                       
        Stock Name                               Market Value      %   
                                                       £               
                                                                       
        BP                                           5,562,487    7.51 
        HSBC                                         4,701,328    6.35 
        Vodafone                                     4,433,569    5.99 
        GlaxoSmithkline                              3,561,989    4.81 
        Royal Bank of Scotland                       2,980,704    4.03 
        Shell Transport & Trading                    2,786,099    3.76 
        Barclays                                     2,311,401    3.12 
        AstraZeneca                                  1,511,365    2.04 
        NHP                                          1,488,593    2.01 
        BT                                           1,342,432    1.81 
                                                                       
        Total Gross Assets                          74,041,883         
                                                                       
                                                                       
        Enquiries:                                                     
                                                                       
        Peter Ingram                                                   
        Company Secretary                                              
        Tel. [phone]                                             
                                                                       
        2 February 2005                                                


                      This information is provided by RNS
            The company news service from the London Stock Exchange