Top Ten Holdings

Hansa Trust PLC
05 July 2004


Hansa Trust PLC

At close of business on 30 June 2004 the Company held the following investments
with a value greater than 5% of gross assets or were at least the 10 largest
investments, a declaration of which is required quarterly under the Listing
Rules Chapter 21.20 l (ii), however Hansa Trust PLC has decided to declare this
information on a monthly basis:-
                                                                             %
Ocean Wilsons Holdings Limited                                           14.45
BRIT Insurance Holdings PLC                                               7.33
Cairn Energy PLC                                                          7.00
Glenmorangie PLC                                                          6.49
Chaucer Holdings PLC                                                      4.65
Cathedral Capital plc                                                     3.97
GUS PLC                                                                   3.78
Amlin plc                                                                 3.75
Tullow Oil PLC                                                            2.75
Baillie Gifford Japan Trust                                               2.63

Hansa Capital Limited
corporate secretary to Hansa Trust PLC
020 7647 5750



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