Portfolio Update

Merchants Trust PLC
02 August 2007




                                       THE MERCHANTS TRUST PLC

                                TOP 10 HOLDINGS AS AT 01 August 2007


Stock Name                                                              Market Value                %
                                                                                   £

Royal Dutch Shell                                                         58,191,000             8.26
GlaxoSmithKline                                                           54,222,960             7.69
BP                                                                        52,946,000             7.51
HSBC                                                                      47,893,600             6.80
Vodafone                                                                  44,656,875             6.34
Royal Bank of Scotland Group                                              37,473,600             5.32
Barclays                                                                  25,477,000             3.61
HBOS                                                                      21,288,930             3.02
Anglo American                                                            19,528,600             2.77
Reed Elsevier                                                             18,497,875             2.62

Total Gross Assets                                                       704,816,904

Enquiries:

Kirsten Salt
Company Secretary
Tel: [phone]

02 August 2007



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