- Quarterly Portfolio Disclosure

MURRAY INTERNATIONAL TRUST PLC


In accordance with UKLA Listing Rule 21.20(l)(ii) as at 30 September 2004, the
Company has no investments with a value greater than 5% of the Company's gross
assets.

A list of the 10 largest investments as at 30 September 2004 is detailed below:

Security
                                %  Gross Assets

Atrium Underwriting                    3.63
S&P Dec04 Future                       3.31
GlaxoSmithKline                        2.29
Vodafone Group                         1.82
BP                                     1.70
Resolution Life                        1.61
Petrol Brasileiros ADR                 1.52
Royal Bank of Scotland Group           1.51
Shell Transport & Trading              1.31
AstraZeneca                            1.22


Aberdeen Asset Management
Secretary to Murray International Trust PLC