Portfolio Update

Brunner Investment Trust PLC
2 December 2004


                                  THE BRUNNER INVESTMENT TRUST PLC

                               TOP 10 HOLDINGS AS AT 30 NOVEMBER 2004

Stock Name                                                              Market Value             %
                                                                              £

Treasury 4.5 7/3/07                                                       25,296,050           10.21
BP                                                                        13,746,618            5.55
HSBC                                                                       8,645,230            3.49
Vodafone                                                                   6,944,756            2.80
Royal Bank of Scotland                                                     6,619,171            2.67
Barclays                                                                   5,207,344            2.10
GlaxoSmithKline                                                            5,168,600            2.09
BHP Billiton                                                               4,240,548            1.71
Standard Chartered                                                         3,740,603            1.51
WPP                                                                        3,404,021            1.37

Total Gross Assets                                                       247,686,120


Enquiries:

Kirsten Salt
Company Secretary
Tel: [phone]

2 December 2004



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