Top Ten Holdings

EDINBURGH SMALL COMPANIES TRUST PLC - 10 LARGEST INVESTMENTS


The  company announces that the ten largest investments as at close of  business
on 31 December 2004 were as follows:


Company                                         % of Gross
                                                  Assets
TOPPS TILES ORD GBP0.025                           3.36
MAJESTIC WINE ORD GBP0.075                         2.19
NORTHGATE ORD GBP0.05                              2.13
WORKSPACE GROUP ORD GBP0.10                        2.06
VICTREX ORD GBP0.01                                1.82
PARAGON GROUP OF COS ORD GBP 0.10                  1.77
INTERMEDIATE CAP ORD GBP0.20                       1.74
MEARS GROUP PLC ORD GPB0.01                        1.65
NHP ORD GBP0.01                                    1.61
INCISIVE MEDIA ORD GBP 0.01                        1.57
TOTAL                                             19.90




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