Welsh Industrial Investment Trust plc

36 Elder Street, London E1 6BT


Portfolio update

The directors of Welsh Industrial Investment Trust plc 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 April, 2009:-

                              Market         % of
                               Value    Portfolio
                               £'000
UK Listed Securities
Anglo Pacific Group              118         4.11
British American Tobacco plc     470        16.35
Devro plc                        176         6.13
London & Associated Properties    78         2.73
National Grid plc                161         5.62
Treasury Stock 6.25% 2010        200         6.98
United Utilities Group            87         3.04

Securities dealt in under AIM
Pactolus Hungarian Property       83         2.90
Sinclair (William) Holdings plc  124         4.32
SpaceandPeople plc               540        18.80
                               -----        -----
                               2,037        70.98
                               =====        =====

The unaudited net asset value (NAV) of the group as at 5th April, 2009 was
261.6p (5th April, 2008 - 461.8p).



B J Hallett
Company Secretary
Welsh Industrial Investment Trust plc

Telephone:     01489 570861

14th April, 2009