Portfolio Update

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 30
September 2004:

Name of company                                 Class of share       
                                                                     
ENI                                             Ordinary             
                                                                     
Edinburgh Partners Opp Fd Japan Opps            I Shares             
                                                                     
Repsol                                          Ordinary             
                                                                     
Glaxosmithkline                                 Ordinary             
                                                                     
Mizuho Financial Group                          Ordinary             
                                                                     
Bradford & Bingley                              Ordinary             
                                                                     
Neopost                                         Ordinary             
                                                                     
Centrica                                        Ordinary             
                                                                     
Altadis                                         Ordinary             
                                                                     
C&C Group                                       Ordinary             
                                                                     
None of the above have a value greater than 5% of the Company's gross
assets.