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 October, 2009:-

                                         Market           % of
                                          Value      Portfolio
                                          £'000
UK Listed Securities
Anglo Pacific Group plc                     197           4.85
British American Tobacco plc                581          14.28
Devro plc                                   259           6.35
Lloyds TSB 13% perp                         101           2.48
London & Associated Properties plc          132           3.24
National Grid plc                           184           4.52
Treasury Stock 6.25% 2010                   197           4.83

Securities dealt in under AIM
Sinclair (William) Holdings plc             146           3.59
SpaceandPeople plc                          877          21.56

Unlisted Securities
Wheelsure Holdings plc 9% loan stock        116           2.85
                                          -----          -----
                                          2,790          68.55
                                          =====          =====

The unaudited net asset value (NAV) of the group as at 5th October, 2009 was
334.4p (5th April, 2009 - 266.0p).



B J Hallett
Company Secretary
Welsh Industrial Investment Trust plc

Telephone:     01489 570861

9th October, 2009