Portfolio Update

Rights and Issues Inv Trust PLC
03 August 2004


Rights and Issues Investment Trust Plc


In accordance with UKLA Listing Rule 21.20 (l) (ii), the following list
represents the Trust's ten largest investments and where appropriate, any
invesment with a value greater than 5% of the Trust's gross assets:

Name of Company                Class                       Value

HBOS                           Ordinary                    3,740,625
Enterprise Inns                Ordinary                    3,731,000
RPS Group                      Ordinary                    3,381,750
Wellington Hldgs               Ordinary                    2,810,000
White Young Green              Ordinary                    2,804,083
Dyson                          Ordinary                    2,770,375
Merrydown                      Ordinary                    2,455,000
Colefax Group                  Ordinary                    1,942,500
Litho Supplies                 Ordinary                    1,872,100
Chamberlin &  Hill             Ordinary                    1,765,000


Of the above HBOS , Enterprise Inns, RPS Group , Dyson , White Young Green and
Wellington Holdings have a market value of greater than 5% of the Trust's gross
assets.


The above information is as at 31st July 2004.







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