Largest Investments

EP Global Opportunities Trust Plc (the 'Company')

In accordance with UKLA Listing Rule 21.20(l)(ii), the following list
represents the Company's 10 largest investments and where appropriate, any
investment with a value greater than 5% of the Company's gross assets as at 31
March 2004:

Name of company                        Class of share                        
                                                                             
Allied Domecq                          Ordinary                              
                                                                             
Centrica                               Ordinary                              
                                                                             
Daiwa House Industry                   Ordinary                              
                                                                             
ENI                                    Ordinary                              
                                                                             
Glaxosmithkline                        Ordinary                              
                                                                             
Hong Kong Electric                     Ordinary                              
                                                                             
Mizuho Financial Group                 Ordinary                              
                                                                             
Shell Transport & Trading              Ordinary                              
                                                                             
Takashimaya                            Ordinary                              
                                                                             
Yamanouchi Pharmaceutical              Ordinary                              
                                                                             
None of the above have a value greater                                       
than 5% of the Company's gross assets