Top 10 Holdings

Dunedin Enterprise Inv Trust PLC
02 February 2004


Quarterly Disclosure


Quarterly Disclosure of 10 largest investments/investments with a value greater
than 5% of Gross Assets


In accordance with revisions to the Listing Rules for investment companies and
investment trusts which are effective as from 1 November 2003, Dunedin
Enterprise Investment Trust PLC (the 'Group') intends to provide details of the
10 largest investments and all investments with a value greater than 5% by value
of the gross assets of the Group in respect of the quarters ending 31 January,
30 April, 31 July and 31 October.


The disclosure will be made using the valuations and consolidated gross assets
from the most recent set of audited annual accounts or reviewed interim accounts
(30 April and 31 October respectively), with adjustments made in respect of the
cost of investment made and realisations since those dates.


On the above basis, as at 31 January 2004 (based on 31 October 2003 valuations)
the following investments have a value greater than 5% of the gross assets of
the Group or are its 10 largest investments:


                                            % of gross assets

Letts Filofax Group Limited                 9.0

Davenham Group Holdings Limited             8.6

Portman Holdings Limited                    5.1

C.G.I. International Limited                5.0

Financiere MGE                              4.6

Goals Soccer Centres Limited                4.1

C6 Solutions Limited (formerly Hickson 
& Welch Group Limited)                      3.8

Caledonian Building Systems Limited         3.2

Gardner Group Limited                       3.0

Blaze Signs International Limited           3.0

END

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