Portfolio Disclosure

Lindsell Train Investment Trust PLC
04 October 2004


THE LINDSELL TRAIN INVESTMENT TRUST PLC

In accordance with Listing Rule 21.20 (l)(ii), The Lindsell Train Investment
Trust PLC announces that at 30 September 2004 the ten largest investments were
as follows:

Company                                         Market Value (£)   Percentage of
                                                                       portfolio
US Treasury 6.25% 15/05/2030                          2,524,794             9.81
Lindsell Train Global Media (Distributor) Inc A       2,271,193             8.82
Lindsell Train Japan (Distributor) Inc                2,101,441             8.16
HBOS 9.25% Non-Cum Irredeemable Preference            2,081,118             8.09
Glenmorangie plc 'A' (Limited Voting)                 2,070,975             8.05
Barr AG                                               1,921,228             7.46
Glenmorangie plc 'B'                                  1,279,770             4.97
Cadbury Schweppes PLC                                 1,248,030             4.85
Wolverhampton & Dudley Breweries                      1,128,808             4.49
Nintendo Co Ltd                                       1,047,633             4.07
Total                                                                      68.77

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

For Phoenix Administration Services Limited
Secretary
4 October 2004


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