Top Ten Investments

Pacific Horizon Investment Tst PLC
03 February 2004


                      PACIFIC HORIZON INVESTMENT TRUST PLC
   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets

31 January 2004

No      Holding                                          % of Total
                                                             Assets

1.      Cheung Kong                                            4.3%
2.      Unilever Indonesia                                     3.5%
3.      British American Tobacco                               2.9%
4.      BOC Hong Kong                                          2.7%
5.      Petrochina 'H'                                         2.5%
6.      CNOOC                                                  2.5%
7.      National Petrochemical                                 2.2%
8.      Malaysia International Shipping                        2.1%
9.      Samsung Corporation                                    2.1%
10.     ASM Pacific Technology                                 2.1%


                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                 3 February 2004



                      This information is provided by RNS
            The company news service from the London Stock Exchange