Portfolio Disclosure

Lindsell Train Investment Trust PLC
02 July 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 June 2004 the ten largest investments were as
follows:

Company                                                             Market Value (£)       Percentage of
                                                                                               portfolio
US Treasury 6.25% 15/05/2030                                               2,518,641               10.56
Lindsell Train Global Media (Distributor) Inc A                            2,279,161                9.55
Lindsell Train Japan (Distributor) Inc                                     2,051,252                8.60
HBOS 9.25% Non-Cum Irredemable Preference                                  1,956,763                8.20
Barr (AG)                                                                  1,811,250                7.59
2.5% Consolidated Loan Stock                                               1,714,865                7.19
Cadbury Schweppes                                                          1,397,059                5.86
Glenmorangie 'A' (Limited Voting)                                          1,221,656                5.12
Wolverhampton & Dudley Breweries                                           1,102,113                4.62
Nintendo Co Ltd                                                              990,878                4.15
Total                                                                                              71.44

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





For Phoenix Administration Services Limited
Secretary
1 July 2004


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