Portfolio Update

Foreign & Colonial Eurotrust PLC
02 April 2004


AVS Security No:

The Stock Exchange
RNS
Old Broad Street
London
EC2N 1HP                                                  2 April 2004



Dear Sir

F&C Eurotrust Plc

The top ten holdings and all holdings over 5% of gross assets as at 31 March
2004 were:

Stock                                                   % of gross assets

TotalFinaElf                                                 5.7
Nokia                                                        5.2
UBS                                                          5.1
Novartis                                                     5.1
BNP Paribas                                                  4.6
Telefonica                                                   3.8
Societe Generale                                             3.3
AXA                                                          3.3
ABN-AMRO                                                     3.2
Deutsche Telekom                                             2.9


                      This information is provided by RNS
            The company news service from the London Stock Exchange