Portfolio Update

Lindsell Train Investment Trust PLC
04 October 2005

THE LINDSELL TRAIN INVESTMENT TRUST PLC

In accordance with Listing Rule 15.4.11 (2), The Lindsell Train Investment Trust
PLC announces that at 30 September 2005 the ten largest investments were as
follows:
Company                                                             Market Value (£)        Percentage of
                                                                                                portfolio
HBOS 9.25% Non-Cum Irredeemable Pref GBP1                                  2,873,605                10.27
US Treasury 6.25% 15/05/2030                                               2,702,628                 9.66
Barr (AG) PLC Ordinary                                                     2,621,817                 9.37
Lindsell Train Global Media (Distributor) Inc A                            2,500,734                 8.94
Cadbury Schweppes PLC Ord 12.5p                                            2,059,200                 7.36
Lindsell Train Japan (Distributor) Inc                                     1,932,333                 6.91
2.5% Consolidated Loan Stock                                               1,923,235                 6.87
Diageo PLC Ordinary 28 101/108p                                            1,670,750                 5.97
Wolverhampton & Dudley Breweries Ord 25                                    1,503,806                 5.37
Treasury 2.5%                                                              1,425,250                 5.09
Total                                                                     21,213,358                75.81

There were no additional investments with a value greater than 5% of the
Company's portfolio.

Phoenix Administration Services Limited - Secretary

4 October 2005


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