Portfolio Update

Personal Assets Trust PLC
04 October 2004


To:                RNS
From:              Personal Assets Trust plc
Date:              04 October 2004


Listing Rule 21


In accordance with paragraph 21.20 l (i) of the Listing Rules Personal Assets
Trust plc announces that, as at 30 September 2004, it had investments in the
following investment companies which do not have stated investment policies to
invest no more than 15% of their gross assets in other listed investment
companies:

Holding                                                     % of Gross Assets

Advance UK Trust  plc                                                   0.38%


For further information please contact:

Gordon Hay Smith
ISIS Asset Management plc
0131 465 1000


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