PORTFOLIO INFORMATION REPORT (hant) - Hansa Trust Plc As at : 31 Dec 2011 All values in gbp equiv.

ISO Share Market % of Name Code Cty Par Value Book Cost Capitalisation Shares Market Value %NAV

Ocean Wilsons Holdings Limited oceanwilsgr BMU 9,352,770.00 2,556,475.00 371,311,920 26.45 98,204,085.00 39.96 BG Group PLC bg/ ln GBR 842,000.00 6,406,440.40 46,715,419,044 0.02 11,590,130.00 4.72 Hargreaves Services Plc hsp ln GBR 1,055,250.00 3,602,847.83 291,183,272 3.90 11,343,937.50 4.62 NCC Group Plc ncc ln GBR 1,309,000.00 2,978,497.20 285,615,532 3.82 10,897,425.00 4.43 Andor Technology Ltd and ln GBR 1,711,214.00 1,903,916.19 181,147,140 5.57 10,096,162.60 4.11 Plc (The) weir ln GBR 469,000.00 5,517,244.80 4,294,460,621 0.22 9,530,080.00 3.88 Experian plc expn ln GBR 971,500.00 6,097,970.97 8,787,619,343 0.10 8,495,767.50 3.46 PLC hri ln GBR 1,507,700.00 6,045,686.38 362,627,188 1.89 6,860,035.00 2.79 BHP Billiton Plc blt ln GBR 361,500.00 5,516,752.85 39,527,423,307 0.02 6,765,472.50 2.75 Hansteen Holdings Plc hstn ln GBR 8,305,113.00 8,029,012.03 487,110,353 1.30 6,332,648.66 2.58 Cape PLC ciu ln GBR 1,865,718.00 4,936,336.61 386,631,185 1.57 6,082,240.68 2.47 GlaxoSmithKline PLC gsk ln GBR 400,000.00 5,769,845.00 74,245,216,077 0.01 5,884,000.00 2.39 DV4 Limited A2 Ordinary Shares dv4 ord GBR 5,725,685.80 5,725,685.80 0.00 5,318,933.08 2.16 PLC cna ln GBR 1,718,750.00 3,757,464.00 14,960,109,641 0.03 4,970,625.00 2.02 BP PLC / ln GBR 1,000,000.00 6,010,541.35 87,251,199,189 0.01 4,598,000.00 1.87 PLC gpor ln GBR 1,381,818.00 4,478,024.94 1,009,943,961 0.44 4,463,272.14 1.82 HSBC Holdings PLC hsbc ln GBR 885,416.00 6,407,904.14 87,740,841,548 0.00 4,347,835.27 1.77 United Business Media ubm ln GBR 900,000.00 5,571,337.50 1,165,348,889 0.37 4,284,900.00 1.74 Kofax PLC kfx ln GBR 1,800,000.00 5,067,280.90 206,981,185 2.03 4,212,000.00 1.71 Eni S.p.A. eni im ITA 300,000.00 4,077,884.50 64,005,634,838 0.01 4,004,343.46 1.63 Plc cne ln GBR 1,350,000.00 5,364,793.00 3,734,365,461 0.10 3,581,550.00 1.46 PLC B shares rdsb ln GBR 143,666.00 1,999,900.00 65,297,526,825 0.01 3,524,845.31 1.43 Galliford Try Plc gfrd2 ln GBR 733,000.00 2,777,153.75 388,788,773 0.90 3,481,750.00 1.42 Wolseley PLC GBP0.10 wols2 ln GBR 144,000.00 1,503,000.00 6,070,546,157 0.05 3,067,200.00 1.25 Goals Soccer Centres Plc goal ln GBR 2,100,000.00 2,454,319.00 44,729,038 4.32 1,932,000.00 0.79 DV3 Limited Preference Shares NPV DV3 pref GBR 327,438.00 40.00 0.00 1,418,103.85 0.58 Qinetiq Group Plc qq ln GBR 1,000,000.00 1,775,050.00 875,791,671 0.15 1,326,000.00 0.54 Melrose Resources Plc mrs ln GBR 1,038,682.00 3,109,745.07 135,333,230 0.91 1,225,644.76 0.50 Lloyds Banking Group lloy ln GBR 4,666,425.00 6,338,205.30 17,755,524,114 0.01 1,205,570.90 0.49 Immupharma PLC imm ln GBR 1,250,000.00 1,075,000.00 64,410,646 1.53 987,500.00 0.40 Altitude Group PLC dwl ln GBR 2,750,000.00 960,000.00 12,396,927 6.54 811,250.00 0.33 Morson Group plc mrn ln GBR 1,750,000.00 2,990,637.50 17,684,063 3.86 682,500.00 0.28 Consolidated Investment Funds Ltd consolin GBR 100,000.00 2,532.00 633,287 100.00 633,287.00 0.26 All Leisure allg ln GBR 2,216,700.00 3,390,560.00 14,818,746 3.59 532,008.00 0.22 CAP-XX LTD cpx ln AUS 2,100,000.00 1,843,612.84 12,710,296 2.73 346,500.00 0.14 IFR Capital PLC ifr ln CYP 2,950,000.00 1,982,447.39 59,189,585 0.70 344,971.60 0.14 Blinkx PLC blnx ln GBR 427,023.00 1,039,999.84 272,683,217 0.12 322,402.37 0.13 Straight Plc stt ln GBR 1,076,000.00 1,709,950.00 2,989,816 9.36 279,760.00 0.11

Page 1 PORTFOLIO INFORMATION REPORT (hant) - Hansa Trust Plc As at : 31 Dec 2011 All values in gbp equiv.

ISO Share Market % of Name Code Cty Par Value Book Cost Capitalisation Shares Market Value %NAV

SeaEnergy PLC ros ln GBR 1,080,000.00 4,292,229.66 17,277,698 1.56 270,000.00 0.11 Premier Foods PLC pfd ln GBR 4,250,000.00 2,939,556.15 137,888,336 0.18 244,375.00 0.10 Ark Therapeutics Group PLC akt ln GBR 6,406,146.00 5,713,457.40 6,278,300 3.06 192,184.38 0.08 BNP Paribas Securities Services A/c 0041 gbphantbnpss 185,097.95 185,097.95 0.00 185,097.95 0.08 Work Group plc work ln GBR 1,400,000.00 1,132,521.74 3,633,388 5.01 182,000.00 0.07 Camco International Ltd cao ln GBR 2,730,000.00 1,819,000.00 11,823,631 1.44 170,625.00 0.07 Superglass Holdings PLC sh ln GBR 500,328.00 3,364,997.85 10,786,481 1.00 107,570.52 0.04 Cathay International Hldgs A SHS cth ln GBR 325,000.00 53,386.90 104,730,140 0.09 92,625.00 0.04 Hephaestus Holdings PLC rts ln GBR 15,100.00 1,484,124.23 233,757,653 0.02 56,625.00 0.02 Minoan Group Plc loy of GBR 613,500.00 1,249,700.00 6,177,428 0.60 36,810.00 0.01 Helesi PLC hls ln CYP 1,508,621.00 1,750,000.36 895,629 3.79 33,943.97 0.01 Engel East Europe NV eee ln NLD 2,750,000.00 2,970,000.00 658,333 3.13 20,625.00 0.01 Diomed Holdings Inc dio us USA 1,654.00 197,935.80 3,032 0.01 0.11 0.00 DV3 Limited nominal shares NPV DV3 nom GBR 40.00 0.00 0.00 0.00 0.00 DV3 Limited ordinary shares NPV DV3 ord GBR 40.00 0.00 0.00 0.00 0.00 Acertec plc acer ln GBR 2,250,000.00 3,120,513.78 4.38 0.00 0.00 Ever Blue Technologies com stk brightcom USA 156,560.00 354,002.27 0.00 0.00 0.00 BV Group Plc bvg ln GBR 1,025,000.00 507,500.00 4.72 0.00 0.00 Leadcom Integrated Solutions lead it ISR 5,500,000.00 161,150.00 4.55 0.00 0.00 Polastar Plc milstech GBR 690,000.00 240,689.00 8.17 0.00 0.00 Media Square ord 0.5p msq ln GBR 1,300,000.00 3,250,000.00 3.59 0.00 0.00 GBP - Accrual gbphantacc GBR -578,103.52 -578,103.52 0.00 -578,103.52 -0.24 BNP Paribas Securities Services A/c 0041 gbphantbnpss -700,000.00 -700,000.00 0.00 -701,668.09 -0.29 BNP Paribas Securities Services A/c 0041 gbphantbnpss -8,500,000.00 -8,500,000.00 0.00 -8,518,690.50 -3.47

165,781,853.65 245,778,757.00 100.00

Page 2