Ten Largest Holdings

Deutsche Equity Income Trust PLC
06 January 2005


The Secretary
Company Announcements Office
The Stock Exchange
10 Paternoster Square
London
EC4M 7LS

6 January 2005



Dear Sirs

Listing Rule 21

In accordance with paragraph 21.20 (I) (ii) of the Listing Rules, Deutsche
Equity Income Trust PLC announces its ten largest investments, including all
holdings with a value greater than 5% of its gross assets, as at 31 December
2004:


Company

HSBC Holdings
BP
Lloyds TSB Group
Royal Bank of Scotland
Shell Transport & Trading
Vodafone Group
Imperial Tobacco
AstraZeneca
Scottish & Southern Energy
Northern Rock


ENDS



Yours faithfully

M Pope
Company Secretary


Enquiries:

Mr Mark Pope
Company Secretary
020 7545 0520


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