Interim Results - 6 Months to 29 February 2000

Edinburgh Dragon Trust PLC
4 April 2000


                         EDINBURGH  DRAGON  TRUST  PLC
                                INTERIM RESULTS

Edinburgh  Dragon  Trust's  objective  is  long-term  capital  growth  through
investment  in the Far East (excluding Japan and Australasia).  The  trust  is
managed  by  Edinburgh  Fund  Managers plc, a  subsidiary  of  Edinburgh  Fund
Managers  Group plc, the international fund management group with funds  under
management of £8.3 billion.


             Interim Results for Six Months Ended 29 February 2000
                                       
Undiluted  net asset value increased by 26.9% compared with a rise  of  12.2%
(in sterling terms) in the MSCI All Country Asia Free (excluding Japan) Index

Share price increased by 31.7% to 94.5p

Telecommunications and technology stocks have been the main  contributors  to
returns

With  economic  growth on a sure footing and strong capital inflows  expected
to continue, the outlook remains positive

For further information please contact:-

Alistair Thompson, Investment Manager
Edinburgh Fund Managers plc                                 0131 313 1000

Alex Gowans, Director
Edinburgh Fund Managers plc                                 0131 313 1000
Chairman's Statement

Performance
I  am  pleased  to report that, over the six months to 29 February  2000,  the
trust's net asset value rose by 26.9% to 113.38p compared with a rise of 12.2%
in  its  benchmark  index, the MSCI All Country Asia  Free  (excluding  Japan)
Index.  The  outperformance of 14.7% was predominately  attributable  to  good
stock  selection which gave a positive contribution of 13.9%. The balance  was
attributable  to gearing, the revenue deficit and share and warrant  buybacks,
which added 1.3%. However asset allocation cost 0.5%.

Individual markets exhibited a wide range of returns (in sterling terms)  with
India  up  52%  and  Malaysia  up  30%, whilst  the  smaller  markets  of  the
Philippines  and Thailand fell 26% and 13% respectively. South Korea  fell  6%
but  this  masks  exceptional performance from the  Korean  telecommunications
sector.  Largely as a result of two stocks, namely Hutchison Whampoa and China
Telecom, Hong Kong rose by 29%.

In  terms  of the trust's outperformance, good stock selection in South  Korea
added  7.9% and in Hong Kong it added 5.5%.  This was largely due to  exposure
to  the themes of telecommunications, low risk technology and outsourcing.  SK
Telecom  in South Korea rose 278% in sterling terms, China Telecom  rose  201%
and  Li  and  Fung  has doubled since November. The fund  benefited  from  the
exposure to Malaysia, which added 1.8% to returns (the Malaysian stock  market
will  re-enter the benchmark index at the end of May) and to being  overweight
to  Taiwan,  which  added 1.2%. The old economy' sectors such  as  utilities,
banks  and  property did not perform well, but we would expect  rotation  into
sectors such as these to occur in the forthcoming six months.

Over  the last year, on a net asset value total return basis according to  the
AITC, Dragon's performance ranks fifth in its sector of fourteen funds.


Revenue
For  the six months to 29 February 2000, the revenue deficit represented 0.77p
per  share compared with a deficit of 0.17 p for the six months to 28 February
1999.  The  increased  deficit was due to a fall in  investment  income  as  a
consequence of lower yields and an increase in the management fee payable.


Share and warrant buybacks
The  trust bought back for cancellation 2,600,000 shares and 499,624  warrants
during  the period at a total cost of £2 million. As a result of the buybacks,
the net asset value per share was enhanced by 0.2%.

The board intends to continue to purchase shares and warrants for cancellation
when  a  buyback  would enhance the net asset value per  share  for  remaining
shareholders.

Outlook
The  economic  background  for Asia looks attractive  over  the  coming  year.
Economic  growth  is now on a sure footing, buoyed by the increase  in  global
growth  and the increasing trend by major multi-national companies  to  source
components  and  services externally and principally within  Asia.   There  is
little  inflationary pressure and interest rates are either  at  or  close  to
record  lows.   Strong  capital  inflows  (in  the  form  of  current  account
surpluses,  foreign direct investment and portfolio inflows) are  expected  to
continue, albeit not at the same levels enjoyed in 1999.

Corporate  restructuring is gathering momentum and foreign competition  should
mean that this will continue.

Whilst in the short term there are a large number of new share issues that may
limit performance, the longer term outlook is positive and the company is well
positioned to take advantage of the trends emerging.

Tony Cassidy, Chairman
4 April 2000

STATEMENT OF TOTAL RETURN
for the six months to 29 February 2000 (unaudited)

                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -     56,648     56,648
Currency losses                         -      (666)      (666)
Buy-back of warrants                    -      (198)      (198)
Investment income                   1,442          -      1,442
Interest receivable                   527          -        527
Other income                           20          -         20
Investment management fee         (1,169)          -    (1,169)
Administrative expenses             (395)          -      (395)
                                 ________  _________  _________
                                               
Net return before finance costs       425     55,784     56,209
and taxation
Interest  payable  and  similar   (2,170)          -    (2,170)
charges
                                 ________  _________  _________
                                                
Return  on  ordinary activities   (1,745)     55,784     54,039
before taxation
Taxation                             (12)          -       (12)
                                 ________  _________  _________
                                               
Return  attributable to  equity   (1,757)     55,784     54,027
shareholders
                                 ________  _________  _________
                                 
                                                               
Return per ordinary share         (0.77p)     24.48p     23.71p
                                 ________  _________  _________
                               
Diluted   return  per  ordinary   (0.76p)     24.20p     23.33p
share
                                 ________  _________  _________
                                 


STATEMENT OF TOTAL RETURN
for the six months to 28 February 1999(unaudited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -     30,055     30,055
Currency gains                          -        118        118
Investment income                   2,520          -      2,520
Interest receivable                   166          -        166
Other income                           23          -         23
Investment management fee           (654)          -      (654)
Administrative expenses             (318)        (5)      (323)
                                 _______  _________   _________
                                
Net return before finance costs     1,737     30,168     31,905
and taxation
Interest  payable  and  similar   (2,109)          -    (2,109)
charges
                                 _______  _________   _________
                               
Return  on  ordinary activities     (372)     30,168     29,796
before taxation
Taxation                             (21)          -       (21)
                                 _______  _________   _________
                                 
Return  attributable to  equity     (393)     30,168     29,775
shareholders
                                 _______  _________   _________
                              
                                                               
Return per ordinary share         (0.17p)     12.81p     12.64p
                                 _______  _________   _________
                               

STATEMENT OF TOTAL RETURN
for the year to 31 August 1999(audited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -    104,456    104,456
Currency losses                         -      (882)      (882)
Investment income                   3,025          -      3,025
Interest receivable                 2,533          -      2,533
Other income                           38          -         38
Investment management fee         (1,568)          -    (1,568)
Administrative expenses             (542)          -      (542)
                                 _______  _________   _________
                                
Net return before finance costs     3,486    103,574    107,060
and taxation
Interest  payable  and  similar   (4,337)          -    (4,337)
charges
                                 _______  _________   _________
                                
Return  on  ordinary activities     (851)    103,574    102,723
before taxation
Taxation                             (18)          -       (18)
                                 _______  _________   _________
                                 
Return  attributable to  equity     (869)    103,574    102,705
shareholders
                                 _______  _________   _________
                                 
                                                               
Return per ordinary share         (0.37p)     44.38p     44.01p
                                 _______  _________   _________
                                 

BALANCE SHEET  (unaudited)
                                At 29        At 31        At 28
                             February  August 1999     February
                                 2000                      1999
                                 £000         £000         £000
Fixed assets                                                   
Investments                   307,490      238,277      132,652
                         ___________   ___________ ___________
                       
Current assets                 11,806       27,463       62,744
Current liabilities             1,677        1,442        1,357
                         ___________   ___________ ___________
                         
Net current assets             10,129       26,021       61,387
                         ___________   ___________ ___________
                         
                              317,619      264,298      194,039
Creditors:amounts                                       
falling  due after  more       59,914       58,822       59,029
than one year
                         ___________   ___________ ___________
                         
                              257,705      205,476      135,010
                         ___________   ___________ ___________
                        
                                                               
                                                               
Capital and reserves                                           
Called up share capital        45,413       45,933       46,803
Reserves                      212,292      159,543       88,207
                         ___________   ___________ ___________
                        
Total      shareholders'                                       
funds relating to equity      257,705      205,476      135,010
interests
                         ___________   ___________ ___________
                       
                                                               
Net   asset  value   per      113.38p       89.36p       57.58p
ordinary share
                                                               
Net   asset  value   per                                       
ordinary share adjusting                                       
for   dilution   arising      110.99p       87.99p          n/a
from  the  exercise   of
warrants

CASHFLOW STATEMENT
(unaudited)
                          For the six   For the six  For the year
                            months to     months to            to
                          29 February   28 February     31 August
                                 2000          1999          1999
                                 £000          £000          £000
                                                                 
Revenue before interest           425         1,737         3,486
and taxation
Decrease in accrued               230           264            62
income
Decrease in other                   2            18          (76)
debtors
Increase in creditors             235            78           238
                                 ----          ----          ----
Net cash inflow from              892         2,097         3,710
operating activities

Net cash outflow from         (2,156)       (2,088)       (4,276)
servicing of finance

Total tax paid                  (158)           696         1,161

Net cash inflow from         (12,564)      (18,367)      (49,563)
financial investment

                                 ----          ----          ----
Net cash inflow before       (13,986)      (17,662)      (48,968)
financing

Net cash outflow from         (1,996)       (1,122)       (3,582)
financing                            
Management of liquid            9,255        13,202        50,387
resources
                                 ----          ----          ----
DECREASE IN CASH AND                                             
CASH EQUIVALENTS              (6,727)       (5,582)       (2,163)
                                 ----          ----          ----

 NOTES :
1. The  accounts  have  been  prepared in accordance  with  the  Statement  of
   Recommended  Practice Financial Statements of Investment Trust Companies'.
   The  same accounting policies used for the year to 31 August 1999 have been
   applied other than for taxation. Franked investment income is reported  net
   of  tax credits in accordance with Financial Reporting Standard 16 Current
   Tax'. The figures for 1999 have been restated to reflect this change.
2. There will be no interim dividend for the year to 31 August 2000.
3. The  statement of total return and the balance sheet set out above  do  not
   represent  full statutory accounts in accordance with Section  240  of  the
   Companies  Act 1985. The financial information for the year  to  31  August
   1999  has been extracted from the Annual Report and Accounts of the company
   which  have  been  filed with the Registrar of Companies and  contained  an
   unqualified auditors' report.
4. The  Interim  Report will be posted to shareholders on 20  April  2000  and
   copies will be available from the registered office.

Please note that past performance is not necessarily a guide to the future and
that  the  value of investments and the income from them may fall as  well  as
rise  and may be affected by exchange rate movements.  Investors may  not  get
back the amount they originally invested. Where investment is made in emerging
markets, their potential volatility may increase the risk to the value of  the
investment.

For Edinburgh Dragon Trust plc
Edinburgh Fund Managers plc, Secretary
David Holland
Assistant Company Secretary