Top 10 Holdings

European Assets Trust NV
4 October 2004

To:             RNS
From:           European Assets Trust
Date:           04 October 2004



Listing Rule 21

In accordance with paragraph 21.20 l (ii) of the Listing Rules European Assets
Trust announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 30 September 2004:


European Assets Trust
Top 10 Holdings
Company                                            % Total Assets
Logitech Intl Regd                                 4.7
Indra Sistemas                                     4.3
Merloni Elettrodomes                               4.2
Neopost                                            3.9
Hera                                               3.8
Grafton Group                                      3.8
Anglo Irish Bank                                   3.5
E Biscom                                           3.3
Iaws Group                                         3.3
Ryanair Holdings                                   3.1



For further information please contact:

Michael Campbell
ISIS Asset Management plc
0131 465 1000





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