Portfolio update

Advance Focus Fund Limited announces that its top ten holdings as at
31 December 2007 were as follows:-


Aero Inventory plc
UK Coal plc
BP plc
Liontrust Asset Management plc
Cadbury Schweppes plc
Hiscox plc
Compass Group plc
Brewin Dolphin Holdings plc
Filtronic plc
Wolfson Microelectronics plc


No other investments were held on 31 December 2007 which represented
more than 5% of gross assets.

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