- Quarterly Portfolio Disclosure

MURRAY INTERNATIONAL TRUST PLC

In accordance with UKLA Listing Rule 21.20(l)(ii) as at 30 June 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 June 2004 is detailed below:

Security                                        %  Gross Assets

Atrium Underwriting                                   4.00
September  2004 S&P Index Future                      3.45
BP                                                    2.46
GlaxoSmithKline                                       2.19
Shell Transport & Trading                             1.78
Vodafone Group                                        1.70
Royal Bank of Scotland Group                          1.53
AstraZeneca                                           1.36
Petrol Brasileiros ADR                                1.22
Aviva                                                 1.05


Aberdeen Asset Management
Secretary to Murray International Trust PLC