Portfolio Update

Rights and Issues Inv Trust PLC
01 November 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                          3,843,000
RPS Group                          Ordinary                          3,658,500
White Young Green                  Ordinary                          3,432,916
Wellington Hldgs                   Ordinary                          3,250,000
Enterprise Inns                    Ordinary                          3,102,500
Dyson                              Ordinary                          3,052,500
Merrydown                          Ordinary                          2,504,100
UCM Group                          Ordinary                          1,988,750
Litho Supplies                     Ordinary                          1,930,000
Colefax Group                      Ordinary                          1,749,300


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


The above information is as at 31st October 2004.



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