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 January, 2009:-

                                Market           % of
                                 Value      Portfolio
                                 £'000
UK Listed Securities
Anglo Pacific Group                 99           3.22
British American Tobacco plc       553          18.00
Devro plc                          162           5.28
National Grid plc                  217           7.04
Royal & Sun Alliance 7.375% Pref    96           3.14
Treasury Stock 6.25% 2010          203           6.61
United Utilities Group             115           3.73

Securities dealt in under AIM
Pactolus Hungarian Property         93           3.01
SpaceandPeople plc                 540          17.56

Unlisted Securities
Xceed Imaging Limited              100           3.25
                                 -----          -----
                                 2,178          70.84
                                 =====          =====

The unaudited net asset value (NAV) of the group as at 5th January, 2009 was
276.5p (5th April, 2008 - 461.8p).



B J Hallett
Company Secretary
Welsh Industrial Investment Trust plc

Telephone:     020 7456 9600

6th January, 2009