Month End Portfolio Update

European Assets Trust NV
15 May 2006


European Assets Trust NV


ALL DATA AS AT 30th April 2006


THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, 

http://www.fandc.com/ FROM APPROXIMATELY 18th May 2006


Top ten equity holdings

Andritz                      5.6%

Neochimiki Lavrentiadis      5.1%

Neopost                      4.1%

Nexity                       3.4%

Kingspan                     3.2%

Anglo Irish Bank             3.2%

OKO Bank                     3.1%

Lindt & Sprungli             3.0%

Logitech                     2.9%

Astaldi                      2.9%

Total                       36.5%


Country

France                      17.5%

Ireland                     14.6%

Spain                       12.4%

Italy                       10.2%

Switzerland                  7.9%

Germany                      6.6%

Austria                      8.0%

Finland                      5.9%

Other                       12.0%

Total                      100.0%


Actual gearing:                  103.9
Potential gearing:               104.7


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