Portfolio Update

The Edinburgh Investment Trustplc 

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
December 2004, announced in accordance with Listing Rule 21.20 (l) (ii).

Security Description                          % Gross Assets
                                                            
VODAFONE GROUP                                           6.7
                                                            
BP                                                       6.3
                                                            
ROYAL BANK OF SCOTLAND GROUP                             5.9
                                                            
HSBC HOLDINGS (UK REG)                                   5.3
                                                            
BRITISH AMERICAN TOBACCO                                 3.2
                                                            
GLAXOSMITHKLINE                                            3
                                                            
SHELL TRANSPORT & TRADING                                2.7
                                                            
TESCO                                                    1.9
                                                            
BARCLAYS                                                 1.7
                                                            
STANDARD CHARTERED                                       1.5
                                                            
TOTAL                                                   38.2