Final Results

Edinburgh Worldwide Inv Trust PLC
4 December 2001


4 December 2001



                   EDINBURGH WORLDWIDE INVESTMENT TRUST PLC  
             Preliminary Results for the year to 31 October 2001


The investment objective of the company is to achieve long-term capital growth
in excess of the capital return (in sterling terms) of the Morgan Stanley
Capital International World Index by investing in stock markets throughout the
world.


*    Net asset value per share fell by 34.4% to 205.84p compared to the
     MSCI World Index which fell by 26.5% in sterling terms.

*    The share price fell by 35.4% to 174.5p.

*    A final dividend of 1.70p will be paid to shareholders, subject to
     shareholder approval, on 1 February 2002. A special interim dividend of 
     0.4p will also be paid to shareholders on 1 February 2002.


                                   - END -


For further information, please contact: -



Iain Beattie              Director,
                          Edinburgh Fund Managers plc          0131 313 1000

Ian Massie                Director,
                          Edinburgh Fund Managers plc          0131 313 1000





Chairman's Statement



In an extremely difficult and volatile period for global equity markets, the
company gave back part of the excellent performance recorded in recent years.
For the twelve months to 31 October 2001, the net asset value per share fell
by 34.4% to 205.84p and the share price fell a similar amount to 174.5p.  This
compares with a fall in the MSCI World Index of 26.5% in sterling terms over
the same period.



This under performance against our benchmark was attributable to both a
combination of gearing and poor stock selection.  The level of the company's
gearing and its impact and cost accounted for approximately 4% of the
shortfall in the net asset value performance relative to the index.  Since its
formation, the company has used long term borrowings which have historically
been of benefit in favourable market conditions.  In the falling markets
experienced this year, however, the company's gearing acted as a drag on
performance and accentuated the level of negative returns from global equity
markets.  The investment performance relating to stock selection accounted for
the remaining 4% of under performance with disappointing returns being
recorded from the company's UK and US holdings.



Revenue

The revenue return for the year amounted to 3.31p per share (2000 -2.12p).
This increase from the previous year was attributable to the revised
allocation of management fees and finance costs between revenue and capital
which was outlined in last year's annual report.  The company's revenues are
influenced by the level of gearing employed and the geographic allocation of
its investments.  In order to maintain maximum flexibility over investment
strategy, the board is recommending a final dividend of 1.70p which is
unchanged from last year.  In order to comply with Inland Revenue requirements
for investment trusts, the board has also declared a special dividend of
0.40p.  The final and special dividends will be paid on 1 February 2002 to
shareholders on the register on 11 January 2002.  When combined with the
interim dividend of 0.50p, the total dividends paid for the year will amount
to 2.60p (2000 - 2.20p).




Marketing

The company has supported the AITC's 'its' marketing campaign over the last
two years.  This campaign has been successful in increasing the awareness and
knowledge of investment trusts among investors and advisors and the board
intends to continue to support the AITC's marketing efforts albeit at a lower
level.  Going forward, the company's support for this marketing campaign will
involve an annual contribution of £9,000 compared to £45,000 in the financial
year to 31 October 2001.



The board also continues to promote the company specifically through the
manager's marketing initiatives which provide a range of savings schemes
through which investors are able to invest in Edinburgh Worldwide in a low
cost and convenient manner.  The company's contribution to this initiative in
the past year was £49,000.  Up to date information about the company and the
various savings products is available on the manager's website, www.edfd.com.



Share Buybacks

Shareholders have given the board the authority to purchase the company's
shares for cancellation.  The board intends to use this authority only when
there is an imbalance between the supply of and demand for the company's
shares and a buyback would enhance the net asset value per share for
continuing shareholders.



The company did not repurchase any of its shares in the year to 31 October
2001.  A special resolution proposing an extension of this facility will be
put to shareholders at the Annual General Meeting.



Borrowing

The company's borrowings are used to increase exposure to equities and thereby
enhance the net asset value in periods of rising markets.  Reflecting the
manager's positive longer term outlook for global equity markets, the company
had 107.1% of shareholders' funds exposed to equity markets at 31 October 2001
(2000 - 112.1%).




Prospects

The near term economic outlook has been clouded by the terrorist attacks in
the USA last September.  The swift response from central banks in cutting
interest rates should prevent a protracted global economic slowdown but it is
still unclear when the signs of economic recovery will emerge.   There is
however still scope for further cuts in interest rates in some markets if so
required to stimulate growth.



Equity markets have largely recovered the losses incurred in the immediate
aftermath of the terrorist attacks.  The building blocks are in place for a
better business environment although in the short term there will be more
negative news for markets to absorb as well as further potential dislocation
from the terrorist attacks.  At some point, markets will begin to look through
these issues, focus on the improving longer term outlook and any improvement
in investor sentiment should lead to more positive stock market conditions.
Your board and manager are acutely aware of the necessity of tracking and
identifying this change in sentiment.



Annual General Meeting

The Annual General Meeting will be held in the manager's offices in Donaldson
House, Edinburgh on Thursday 31 January 2002. I look forward to welcoming
shareholders there.


David Coltman, Chairman



STATEMENT OF TOTAL RETURN
for the year ended 31 October 2001 (audited)
                                                 Revenue    Capital      Total
                                                    £000       £000       £000

Realised losses on investments                        -    (18,126)   (18,126)
Unrealised losses on investments                      -    (33,178)   (33,178)
Foreign exchange gains                                -        694        694
Investment income                                 2,069          -      2,069
Interest receivable                                 954          -        954
Other income                                         14          -         14
Investment management fee                          (165)      (937)    (1,102)
Administrative expenses                            (387)         -       (387)
                                                  ______     ______     ______
Net return before finance costs and taxation      2,485    (51,547)   (49,062)
Interest payable and similar charges               (350)    (1,981)    (2,331)
                                                  ______     ______     ______
Return on ordinary activities before taxation     2,135    (53,528)   (51,393)
Taxation                                           (515)       282       (233)
                                                  ______     ______     ______
Return attributable to equity shareholders        1,620    (53,246)   (51,626)
Dividend in respect of equity shares             (1,274)         -     (1,274)
                                                  ______     ______     ______
                                                    346    (53,246)   (52,900)
                                                  ______     ______     ______
Return per ordinary share                          3.31p  (108.65p)  (105.34p)
                                                  ______    _______     ______


________________________________________________________________________________

STATEMENT OF TOTAL RETURN

for the year ended 31 October 2000 (audited)
                                                  Revenue   Capital     Total
                                                     £000      £000      £000

Realised gains on investments                          -    20,942    20,942
Unrealised gains on investments                        -     4,961     4,961
Foreign exchange losses                                -    (1,953)   (1,953)
Investment income                                  1,724         -     1,724
Interest receivable                                  961         -       961
Other income                                          28         -        28
Investment management fee                           (406)   (1,218)   (1,624)
Administrative expenses                             (375)        -      (375)
                                                   ______    ______    ______
Net return before finance costs and taxation       1,932    22,732    24,664
Interest payable and similar charges                (588)   (1,763)   (2,351)
                                                   ______    ______    ______
Return on ordinary activities before taxation      1,344    20,969    22,313
Taxation                                            (303)      119      (184)
                                                   ______    ______    ______
Return attributable to equity shareholders         1,041    21,088    22,129
Dividend in respect of equity shares              (1,078)        -    (1,078)
                                                   ______    ______    ______
                                                     (37)   21,088    21,051
                                                   ______    ______    ______
Return per ordinary share                           2.12p    43.03p    45.15p
                                                   ______    ______    ______



BALANCE SHEET  (audited)
                                             At 31 October       At 31 October
                                                      2001                2000
                                                      £000                £000
Fixed assets
Investments                                       120,499             172,329
Investment property                                   120                 180
                                                    ______              ______
                                                  120,619             172,509
                                                    ______              ______

Current assets                                     25,720              27,823
Current liabilities                                (3,950)             (4,613)
                                                    ______              ______
Net current assets                                 21,770              23,210
                                                    ______              ______

Total assets less current liabilities             142,389             195,719
Creditors: falling due after more than            (41,521)            (41,951)
one year

                                                    ______              ______
                                                  100,868             153,768
                                                    ______              ______

Capital and reserves
Called up share capital - equity                    2,450               2,450
Reserves                                           98,418             151,318
                                                    ______              ______
Total equity shareholders' funds                  100,868             153,768
                                                    ______              ______

Net asset value per ordinary share                 205.84p             313.78p





CASHFLOW STATEMENT (audited)
                                          For the year ended For the year ended
                                            31 October 2001    31 October 2000
                                                       £000               £000

Net cash inflow from operating activities             1,546                700

Net cash outflow from servicing of                   (2,356)            (2,257)
finance

Total tax paid                                         (196)              (214)

Net cash inflow from financial investment             1,677                354

Equity dividends paid                                (1,078)            (1,078)
                                                      ______             ______
Net cash outflow before financing                      (407)            (2,495)

Management of liquid resources                       (3,402)             7,372
                                                      ______             ______
DECREASE IN CASH                                     (3,809)             4,877
                                                      ______             ______


NOTES :

1.    The accounts have been prepared in accordance with the Statement of
      Recommended Practice 'Financial Statements of Investment Trust Companies'.
      The accounts are prepared under the same accounting policies used for the 
      year to 31 October 2000.

2.    The directors propose that a final dividend of 1.70p be paid to
      shareholders on the register at the close of business on 11 January 2002. 
      The ex-dividend date is 9 January 2002 and, subject to shareholder 
      approval, the dividend will be paid on 1 February 2002. The directors have
      also declared a special interim dividend of 0.4p to be paid on 1 February 
      2002 to shareholders on the register on 11 January 2002. The ex-dividend 
      date is 9 January 2002.

3.    The financial information for the period ended 31 October 2000 has
      been extracted from the 2000 Annual Report and Accounts of the company 
      which have been filed with the Registrar of Companies and contained an 
      unqualified auditors' report. The statement of total return, balance sheet
      and cashflow statement set out above do not represent full statutory 
      accounts in accordance with Section 240 of the Companies Act 1985. The 
      statutory accounts for 2001 contain an unqualified auditors' report and   
      will be delivered to the Registrar of Companies prior to the company's 
      Annual General Meeting which will be held at Donaldson House, 97 Haymarket
      Terrace, Edinburgh on Thursday, 31 January 2002 at 12.00 noon.

4.    The Annual Report will be posted to shareholders on 20 December
      2001 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.



For Edinburgh Worldwide Investment Trust plc
Edinburgh Fund Managers plc, Secretary
END