Statement re holdings in investment companies

THE THROGMORTON TRUST PLC

MONTH ENDED 29 FEBRUARY 2004

Information based on valuation dated 29 February 2004:

In accordance with UKLA Listing Rules 21.20l(i), the investment companies/
trusts held by the Company which do not themselves have a stated investment
policy of restricting holdings in other investment companies/trusts to 15% of
their gross assets are listed below:

Company                                    Stock                   %           
                                                                               
                                                                   Gross Assets
                                                                               
NEWMEDIA SPARK PLC                         ORD 2.5p                0.72        
                                                                               
LONDON ASIA CAPITAL PLC                    ORD 5p                  0.40        

The total value of the above holdings represents 1.12% of the Company's gross
assets as at 29 February 2004.

In accordance with UKLA Listing Rule 21.20l(ii), the top ten holdings and
holdings exceeding 5% of the Company's gross assets are listed below:

Top Ten Holdings:

Company                              Stock                        %            
                                                                               
                                                                  Gross Assets 
                                                                               
HEADLAM GROUP                        ORD 5p                       2.57         
                                                                               
MOWLEM                               ORD 25p                      2.45         
                                                                               
FINDEL                               ORD 5p                       2.41         
                                                                               
CREST NICHOLSON                      ORD 10p                      2.35         
                                                                               
COUNTRYSIDE PROPERTIES               ORD 25p                      2.31         
                                                                               
REDROW GROUP                         ORD 10p                      1.90         
                                                                               
PARAGON GROUP COMPANIES              ORD 10p                      1.84         
                                                                               
UMECO                                ORD 25p                      1.81         
                                                                               
SCOTTISH RADIO HOLDINGS              ORD 5p                       1.73         
                                                                               
C D BRAMALL                          ORD 10p                      1.72         

Investments >5% of Gross Assets

NONE                                 NIL                          0            

2 March 2004