Portfolio Update

Personal Assets Trust PLC
05 January 2005

To:                   RNS
From:                 Personal Assets Trust plc
Date:                 05-Jan-05



Listing Rule 21



In accordance with paragraph 21.20 l (i) of the Listing Rules Personal Assets
Trust plc announces that, as at 31-Dec-04, 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
F&C Asset Management plc
0131 465 1000




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