Portfolio Update

British Portfolio Trust PLC
2 June 2005


                                      BRITISH PORTFOLIO TRUST PLC

                                   TOP 10 HOLDINGS AS AT 31 May 2005

Stock Name                                         Market Value                %
                                                              £

BP                                                    5,496,100             7.47
HSBC                                                  4,646,475             6.31
Vodafone Group                                        4,494,248             6.11
GlaxoSmithKline                                       4,124,329             5.60
Shell Transport & Trading                             2,871,755             3.90
Royal Bank of Scotland                                2,736,120             3.72
Barclays                                              2,070,134             2.81
AstraZeneca                                           1,773,766             2.41
National Grid Transco                                 1,499,974             2.04
BT Group                                              1,377,122             1.87

Total Gross Assets                                   73,591,974


Enquiries:

Peter Ingram
Company Secretary
Tel. [phone]

2 June 2005

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