Portfolio Update

Brunner Investment Trust PLC
03 September 2004









                        THE BRUNNER INVESTMENT TRUST PLC





List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
August 2004,  announced in accordance with Listing Rule 21.20 (l) (ii).


                       Holding                               % of Gross Assets
Treasury 4.5 7/3/07                                              10.41

BP Plc                                                            5.32
HSBC Hldgs                                                        2.76
Vodafone Grp                                                      2.59
Royal Bk Scot                                                     2.40
Barclays                                                          2.08
GlaxoSmithKline                                                   1.79
BHP Billiton                                                      1.52
Standard Chartered                                                1.48
GUS plc                                                           1.26



Enquiries:

Kirsten Salt
Company Secretary
Tel: [phone]
3 September 2004



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