10 Largest Investments

EDINBURGH US TRACKER TRUST PLC - 10 LARGEST INVESTMENTS

The company announces that the ten largest investments as at close of
business on 31 January 2004 were as follows:


Company                         % of Gross Assets
General Electric                3.22
Microsoft Corp                  2.86
Pfizer Inc                      2.67
Exxon Mobil                     2.59
Citigroup                       2.42
Walmart Stores                  2.23
Intel Corp                      1.91
Amer International              1.73
Cisco Systems                   1.70
International Business Machine   1.63
                                22.96


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