10 Largest Investments

EDINBURGH SMALL COMPANIES TRUST PLC - 10 LARGEST INVESTMENTS


The  company announces that the ten largest investments as at close of  business
on 30 June 2004 were as follows:


Company                                 % of Gross Assets
Topps Tiles                                     2.44
Majestic Wine                                   1.99
Northgate                                       1.89
Workspace Group                                 1.89
Intermediate Cap                                1.88
Ashtenne Holdings                               1.85
Alba                                            1.82
Telecom Plus                                    1.80
Robert Wiseman Dairies                          1.75
French Connection Group                         1.72
TOTAL                                          19.03




END