Portfolio Update

European Assets Trust NV
15 August 2006

European Assets Trust NV

ALL DATA AS AT 31st July 2006

THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, http://
www.fandc.com/ FROM APPROXIMATELY 18th August 2006

Top ten equity holdings

Neochimiki Lavrentiadis    4.9%
Andritz   4.7%
Neopost   3.5%
C&C Group  3.3%
Kingspan   3.3%
OKO Bank   3.1%
Nexity   3.0%
Topdanmark   3.0%
Indra Sistemas   3.0%
Lindt & Sprungli   2.9%
Total  34.7%

Country allocation

France    14.0%
Ireland   15.1%
Spain  10.4%
Italy  11.3%
Germany  9.6%
Austria  7.1%
Norway  6.8%
Switzerland  5.8%
Greece  5.8%
Other1  14.1%

Total  100.0%




Actual gearing:  109.1
Potential gearing:  110.0



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