Top 10 Holdings - December 04

HG Capital Trust PLC
07 January 2005

The following replaces the Top 10 Holdings - December 04 announcement released 5
January 2005 at 16:32 under RNS No. 0592H.  Treasury 7.75% 2006 notified at the
top has been moved to 'Other holdings over 5%' and Travelsphere has been added
to the bottom of the list.

All other details remain unchanged and the full amended announcement appears
below.



HgCapital Trust plc
As at 31 December 2004

Top 10 Private Equity holdings:


                                                          % of total assets

Tunstall Holdings                                                   9.35
Xtx                                                                 6.96
WET Automotive                                                      6.80
Blue Minerva                                                        5.76
Classic Copyright                                                   5.24
Castlebeck Group                                                    4.63
Reymarine                                                           4.44
Clarion Events                                                      3.70
Clinphone Holdings                                                  3.42
Travelsphere                                                        3.40


Other holdings over 5%:


Treasury 7.75% 2006                                                10.32


Holdings in restricted UK listed investment companies:


n/a



5 January 2005


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