Portfolio Update

European Assets Trust NV
18 April 2007

European Assets Trust NV





ALL DATA AS AT 31st March 2007



THIS DATA WILL BE AVAILABLE ON THE F&C ASSET MANAGEMENT WEB-SITE, http://
www.fandc.com/ FROM APPROXIMATELY 18th April 2007




Top ten equity holdings

Andritz                           4.5%
Anglo Irish Bank                  4.4%
Nexity                            4.2%
Topdanmark                        4.0%
Kingspan                          3.4%
Logitech                          3.4%
Piaggio & C                       3.3%
Digital Multimedia Technologies   3.3%
MTU Aero Engines                  3.2%
Trevi Finanziaria                 3.2%
Total                            36.9%




Country allocation

France                   14.1%
Ireland                  17.1%
Spain                     6.7%
Italy                    12.3%
Austria                   7.2%
Norway                    6.4%
Switzerland               7.4%
Denmark                   6.1%
Finland                   6.0%
Other                    16.7%

Total                   100.0%




Actual gearing:          99.3
Potential gearing:      100.0














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