Top Ten Investments

Monks Investment Trust PLC
03 February 2004

                         THE MONKS INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets



31 January 2004


No      Holding                                                               % of Total Assets

1.      Baillie Gifford Pacific C Income                                             7.2%
2.      Baillie Gifford High Yield Bond Fund C Income                                4.4%
3.      Suncor Energy                                                                3.4%
4.      Golden West Financial                                                        3.2%
5.      Vodafone Group                                                               2.6%
6.      Moodys                                                                       2.5%
7.      Altria Group                                                                 2.4%
8.      Pfizer                                                                       2.0%
9.      Bank of Scotland (SAMS) 2072                                                 1.7%
10.     GlaxoSmithKline                                                              1.7%





                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                 3 February 2004





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