Portfolio Update

Brunner Investment Trust PLC
5 July 2004


                                  THE BRUNNER INVESTMENT TRUST PLC

                                 TOP 10 HOLDINGS AS AT 30 JUNE 2004

Stock Name                                                              Market Value               %
                                                                               £

Treasury 4.5% 7/3/07                                                      25,126,875           10.26
BP Plc                                                                    12,536,710            5.12
HSBC Hldgs                                                                 6,255,649            2.55
Vodafone Grp                                                               5,905,488            2.41
Royal Bk Scot                                                              5,863,531            2.39
Barclays                                                                   4,529,907            1.85
GlaxoSmithKline                                                            4,205,601            1.72
BHP Billiton                                                               3,315,527            1.35
WPP Group                                                                  3,298,014            1.35
Standard Chartered                                                         3,095,406            1.26

Total Gross Assets                                                       244,909,836


Enquiries:

Kirsten Salt
Company Secretary
Tel: [phone]

5 July 2004



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