Portfolio Update

Second Advance Value Realisation Co 05 January 2005 Second Advance Value Realisation Company Limited announces that its top ten holdings as at 31st December 2004 were as follows:- Chapelthorpe plc European Colour plc Gowrings plc Hampton Trust plc LTG Technology Macfarlane Group plc Ricardo plc Sherwood Grp plc Wagon plc Wireless Group plc No other investments were held on 31st December 2004 which represented more than 5% of gross assets. This information is provided by RNS The company news service from the London Stock Exchange