Portfolio Update

Rights and Issues Inv Trust PLC
01 June 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

Enterprise Inns                Ordinary                    4,210,500
HBOS                           Ordinary                    3,745,875
RPS Group                      Ordinary                    3,199,500
Wellington Hldgs               Ordinary                    2,660,000
Dyson                          Ordinary                    2,650,125
White Young Green              Ordinary                    2,399,833
Merrydown                      Ordinary                    2,283,150
Colefax Group                  Ordinary                    2,100,000
Litho Supplies                 Ordinary                    1,833,500
Chamberlin &  Hill             Ordinary                    1,550,000



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


The above information is as at 31st May 2004.







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