Portfolio Update

Gresham House plc

36 Elder Street, London E1 6BT


Listing Rule 21.20(l)(ii)

In  accordance with 21.20(l)(ii) of the Listing Rules we detail below a list  of
the 10 largest investments (which include all those with a value greater than 5%
of the portfolio) as at 30th June, 2008:-

                                          Market           % of
                                           Value      Portfolio
                                           £'000
UK Listed Securities
Welsh Industrial Investment Trust plc        980           6.92

Securities dealt in under AIM
Avesco Group plc                             292           2.07
Hallin Marine Subsea International plc     5,624          39.73
Image Scan Holdings plc                      223           1.57
Plus Markets Group plc                       363           2.56
Portland plc                               1,116           7.89
SpaceandPeople plc                         1,588          11.22

Securities dealt in under PLUS Market
Wheelsure Holdings plc                       280           1.98

Unlisted Securities
Audiogravity Holdings Ltd                    228           1.61
Gizmo Packaging Limited                      250           1.77
                                          ------          -----
                                          10,944          77.32
                                          ======          =====
B J Hallett
Director & Company Secretary
Gresham House plc

Telephone:     [phone]

2nd July, 2008