Welsh Industrial Investment Trust plc

3 Spital Yard, Spital Square, London E1 6AQ


Portfolio update

The directors of Welsh Industrial Investment Trust plc are pleased to 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, 2009:-

                                   Market         % of
                                    Value    Portfolio
                                    £'000
UK Listed Securities
Anglo Pacific Group plc               143         4.08
British American Tobacco plc          513        14.65
Devro plc                             178         5.10
London & Associated Properties plc    102         2.91
National Grid plc                     168         4.79
Treasury Stock 6.25% 2010             199         5.67

Securities dealt in under AIM
Pactolus Hungarian Property plc        93         2.64
Sinclair (William) Holdings plc       146         4.17
SpaceandPeople plc                    742        21.21

Unlisted Securities
Wheelsure Holdings plc 9% loan stock  116         3.31
                                   ------        -----
                                    2,400        68.53
                                   ======        =====

The unaudited net asset value (NAV) of the group as at 5th July, 2009 was 305.0p
(5th April, 2009 - 266.0p).



B J Hallett
Company Secretary
Welsh Industrial Investment Trust plc

Telephone:     01489 570861

14th July, 2009