Portfolio Update

12 Jan 2005 10:57

Collective Assets Trust PLC12 January 2005 To: RNSFrom: Collective Assets Trust plcDate: 12-Jan-05 Listing Rule 21 In accordance with paragraph 21.20 l (i) of the Listing Rules Collective AssetsTrust plc announces that, as at 31-Dec-04, it had investments in the followinginvestment companies which do not have stated investment policies to invest nomore than 15% of their gross assets in other listed investment companies: Holding % of Gross Assets Independent Investment Trust plc 4.76%The Second Alliance Trust 4.55% Total 9.31% For further information please contact: Gordon Hay SmithF&C Asset Management plc0131 465 1000 This information is provided by RNS The company news service from the London Stock Exchange