Listing Rule 21.20 (l) (ii)

Lindsell Train Investment Trust PLC
04 April 2005


THE LINDSELL TRAIN INVESTMENT TRUST PLC

In accordance with Listing Rule 21.20 (l)(ii), The Lindsell Train Investment
Trust PLC announces that at 31 March 2005 the ten largest investments were as
follows:

Company                                        Market Value (£)    Percentage of
                                                                       portfolio

Barr (AG) PLC Ordinary                                2,488,435             9.85
US Treasury 6.25% 15/05/2030                          2,451,647             9.70
Lindsell Train Global Media (Distributor) Inc A       2,382,814             9.43
HBOS 9.25% Non-Cum Irredeemable Pref GBP1             2,238,390             8.86
Lindsell Train Japan (Distributor) Inc                1,944,684             7.70
Cadbury Schweppes PLC Ord 12.5p                       1,803,700             7.14
2.5% Consolidated Loan Stock                          1,792,920             7.09
Wolverhampton & Dudley Breweries                      1,430,078             5.66
Diageo PLC Ordinary 28 101/108p                       1,361,450             5.39
Treasury 2.5%                                         1,329,250             5.26
Total                                                19,223,368            76.08

There were no additional investments with a value greater than 5% of the
Company's portfolio.

Phoenix Administration Services Limited - Secretary

4 April 2005


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