Top 10 Holdings - December 03

HG Capital Trust PLC
05 January 2004

HgCapital Trust plc
As at 31 December 2003

Top 10 holdings:


                                                                    % of total assets


Raymarine                                                                        10.12
Xtx                                                                               8.33
WET Automotive                                                                    8.12
FTE Automotive                                                                    7.80
Classic Copyright                                                                 6.30
Tunstall Holdings                                                                 6.14
Match Holdings                                                                    5.87
Travelsphere                                                                      4.71
Pharma Bio                                                                        4.52
Castlebeck                                                                        3.90


Other holdings over 5%:


n/a


Holdings in restricted UK listed investment companies:


n/a



5 January 2004


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