Welsh Industrial Investment Trust 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 5th July, 2007:-

                                          Market         % of
                                           Value    Portfolio
                                           �'000           
UK Listed Securities                             
British American Tobacco plc                 509         6.53
London & Assoc Properties plc                296         3.79
National Grid plc                            221         2.84
Treasury Stock 6.25% 2010                    188         2.41
                                                 
Securities dealt in under AIM                       
Avesco Group plc                             355         4.55
Image Scan Holdings plc                      495         6.35
Pactolus Hungarian Property                  179         2.29
SpaceandPeople plc                         2,362        30.29
Transense Technologies plc                   322         4.13
                                                 
Unlisted Securities                              
Image Scan Holdings plc 9% loan stock        200         2.56
                                           -----        -----                                           
                                           5,127        65.74
                                           =====        =====

The unaudited net asset value (NAV) of the group as at 5th July, 2007 was 626.6p
(5th April, 2007 - 572.8p).



B J Hallett
Company Secretary
Welsh Industrial Investment Trust plc

Telephone:     020 7456 9600

9th July, 2007






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