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 July 2004 were as follows:


Company                                 % of Gross Assets
General Electric Company                             3.40
Microsoft Corporation                                3.00
Exxon Mobil Corporation                              2.96
Pfizer Inc                                           2.38
Walmart Stores                                       2.22
Citigroup Inc                                        2.22
American International Group                         1.80
Bank of America Corporation                          1.70
Johnson & Johnson                                    1.59
Intel Corporation                                    1.54
TOTAL                                               22.81


END