Portfolio Update

Rights and Issues Inv Trust PLC
03 December 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

RPS Group                              Ordinary                      4,009,500
HBOS                                   Ordinary                      3,845,625
White Young Green                      Ordinary                      3,657,499
Dyson                                  Ordinary                      3,186,625
Wellington Hldgs                       Ordinary                      3,140,000
Merrydown                              Ordinary                      3,105,575
Chamberlin &  Hill                     Ordinary                      2,070,000
Litho Supplies                         Ordinary                      1,872,100
Hill & Smith Holdings                  Ordinary                      1,830,000
Colefax Group                          Ordinary                      1,749,300

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


The above information is as at 30th November 2004.



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