Portfolio Update

Strategic Equity Capital PLC
04 October 2005


STRATEGIC EQUITY CAPITAL

In accordance with UKLA Listing Rule 15.4.11(2), the following list represents
the Company's disclosable investments as at 30 September 2005:


Name of company                                     Class of share

Evolution Group                                     Ordinary Shares
Communisis                                          Ordinary Shares
Chorion                                             Ordinary Shares
Watermark                                           Ordinary Shares
Mowlem                                              Ordinary Shares
Elementis                                           Ordinary Shares
Mecom Group                                         Ordinary Shares
SMG                                                 Ordinary Shares



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