Interim Results

EDINBURGH US TRACKER TRUST PLC
7 September 1999


                        EDINBURGH US TRACKER TRUST PLC

               INTERIM RESULTS FOR THE SIX MONTHS TO 31 JULY 1999
                                  HIGHLIGHTS

Net asset value per share rose by 5.5%  to 669.07p compared to a rise of
5.3% in the S&P Composite Index

Interim dividend of 2.0p per share (1998 - 2.0p)

Share price up 8.2% to 624.5p

For further information, please contact:-
David McCraw, Director
Edinburgh Fund Managers plc                            0131 313 1000

Alex Gowans, Director
Edinburgh Fund Managers plc                            0131 313 1000


CHAIRMAN'S STATEMENT

Performance
I  am  pleased to report that the company has continued to meet the investment
objective of tracking the performance of the S&P Composite Index.  During  the
period  the  net  asset value per share increased by 5.5% to 669.07p  compared
with a rise of 5.3% in the index.  The company's share price increased by 8.2%
to 624.5p, which is a discount of 6.7% to the net asset value.

The strategy employed by the company to track the index is full replication of
the index constituents.

The  directors have declared an interim dividend of 2.00p (1998 -  2.00p)  per
share  for  the  year  to  31  January 2000 payable  on  15  October  1999  to
shareholders on the register on 24 September 1999.  Revenue return  per  share
for the period was 2.31p.

Continuation Vote
Your  board  was  encouraged by the high level of continued  support  for  the
company at the 1999 Annual General Meeting.  Of the 23.4 million shares  voted
by proxy, 99.9% were cast in favour.

Year 2000 Compliance
The  year  2000  compliance  project is being implemented  by  Edinburgh  Fund
Managers  plc, the company's manager, to ensure that its systems and  services
continue to operate over the millennium. Edinburgh Fund Managers plc completed
the  audit, testing and upgrade phases of the project during 1998. Contingency
planning,  supplier monitoring and critical systems re-testing  will  continue
throughout 1999. All associated costs will be met by the manager.

Investment Activity
Activity  within  the  portfolio reflected changes to the index  constituents.
The  value  of stocks purchased and sold were £11.1 million and £11.6  million
respectively  with the main changes being generated by takeover  activity  and
corporate  restructurings.  17 new stocks were added to the  portfolio  during
the period and, as at 31 July 1999, the portfolio consisted of 502 stocks.

Outlook
Share  prices  have  been  pushed higher this year  by  better  than  expected
corporate  profits.   The US economy continues to expand  at  a  healthy  pace
although  the monetary authorities have taken steps over the summer months  to
prevent  a  re-emergence of inflation.  Short-term interest  rates  have  been
increased  by  0.25%  on  two occasions and these  moves  have  unsettled  the
financial markets.  The valuations awarded to US equities are undoubtedly high
although in a low inflation environment these ratings are justified.  Provided
inflation  can  be kept under control, US equities will remain  attractive  to
investors.   Edinburgh  US Tracker Trust is the only UK  investment  trust  to
track  the  performance  of the S&P Composite Index and provides  shareholders
with a diversified portfolio of the top 500 companies in the USA.

Sir Angus Grossart, Chairman
7 September 1999



STATEMENT OF TOTAL RETURN
for the six months to 31 July 1999 (unaudited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -     28,824     28,824
Income from investments             3,610          -      3,610
Interest receivable                    27          -         27
Investment management fee           (702)          -      (702)
Administrative expenses             (150)          -      (150)
                                    -----      -----      -----
Net  Return before interest and     2,785     28,824     31,609
taxation
Interest payable                        -          -          -
                                    -----      -----      -----
Return  on  ordinary activities     2,785     28,824     31,609
before taxation
Taxation                            (839)          -      (839)
                                    -----      -----      -----
Return  on  ordinary activities     1,946     28,824     30,770
after taxation
Dividends  in respect  of  non-      (18)          -       (18)
equity shares
                                    -----      -----      -----
Return  attributable to  equity     1,928     28,824     30,752
shareholders
                                    -----      -----      -----
Return per ordinary share           2.31p     34.61p     39.92p
                                    -----      -----      -----

For  the six months to 31  July                                
1998 (unaudited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -     58,600     58,600
Income from investments             3,379          -      3,379
Interest receivable                    78          -         78
Investment management fee           (578)          -      (578)
Administrative expenses             (163)          -      (163)
                                    -----      -----      -----
Net  Return before interest and     2,716     58,600     61,316
taxation
Interest payable                        -          -          -
                                    -----      -----      -----
Return  on  ordinary activities     2,716     58,600     61,316
before taxation
Taxation                            (829)          -      (829)
                                    -----      -----      -----
Return  on  ordinary activities     1,887     58,600     60,487
after taxation
Dividends  in respect  of  non-      (18)          -       (18)
equity shares
                                    -----      -----      -----
Return  attributable to  equity     1,869     58,600     60,469
shareholders
                                    -----      -----      -----
Return per ordinary share           2.24p     70.37p     72.61p
                                    -----      -----      -----

 for the year to 31 January 1999 (audited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Gains on investments                    -    123,271    123,271
Income from investments             6,660          -      6,660
Interest receivable                    97          -         97
Investment management fee         (1,192)          -    (1,192)
Administrative expenses             (294)          -      (294)
                                    -----      -----      -----
Net  Return before interest and     5,271    123,271    128,542
taxation
Interest payable                      (3)          -        (3)
                                    -----      -----      -----
Return  on  ordinary activities     5,268    123,271    128,539
before taxation
Taxation                          (1,615)          -    (1,615)
                                    -----      -----      -----
Return  on  ordinary activities     3,653    123,271    126,924
after taxation
Dividends  in respect  of  non-      (37)          -       (37)
equity shares
                                    -----      -----      -----
Return  attributable to  equity     3,616    123,271    126,887
shareholders
                                    -----      -----      -----
Return per ordinary share           4.34p    148.04p    152.38p
                                    -----      -----      -----

BALANCE SHEET
                                At 31        At 31      At 31
                            July 1999      January  July 1998
                                              1999
                                 £000         £000       £000
Fixed assets                                                 
Investments                   557,501      529,240    464,757
Current assets                                               
Debtors                         2,040        1,946      2,191
Cash and short term deposits    1,730          913        699
                                 ----         ----       ----
                                3,770        2,859      2,890
Creditors:  amounts  falling                                 
due                             2,912        2,753      2,351
  within one year
Net current assets                858          106        539
                                -----        -----      -----
                              558,359      529,346    465,296
Provision  for liabilities      (161)        (227)      (221)
and charges
                                -----        -----      -----
                              558,198      529,119    465,075
                                -----        -----      -----
                                                             
Capital and reserves                                         
Called  up  share  capital      1,058        1,058      1,058
:non-equity
                                -----        -----      -----
Called  up  share  capital     20,816       20,816     20,816
:equity
Other reserves                536,324      507,245    443,201
                                -----        -----      -----
Total equity shareholders'    557,140      528,061    464,017
funds
                                -----        -----      -----
                              558,198      529,119    465,075
                                -----        -----      -----
                                                             
Net asset value per share     669.07p      634.15p    557.24p
                                                             
NOTES :
1. The  accounts are prepared under the same accounting policies used for  the
   year to 31 January 1999.
2. The interim dividend for the year ended 31 January 2000 will be paid on  15
   October  1999 to shareholders on the register at the close of  business  on
   24 September 1999. The ex-dividend date is 20 September 1999.
3. The statement of total return and the balance sheet set out above do not
   represent full accounts in accordance with Section 240 of the Companies Act
   1985. The financial information for the year ended 31 January 1999 has been
   extracted from the Annual Report and Accounts of the Company which have    
   been filed with the Registrar of Companies. The auditors' report on those  
   accounts was unqualified.
4. The  Interim Report will be posted to shareholders on 30 September  1999
   and copies will be available from the investment manager.

Please note that past performance is not necessarily a guide to the future and
that  the  value of investments and the income from them may fall as  well  as
rise  and may be affected by exchange rate movements.  Investors may  not  get
back the amount they originally invested.

For Edinburgh US Tracker Trust plc
Edinburgh Fund Managers plc, Secretary
David Holland
Assistant Secretary