Portfolio Update

Rights and Issues Inv Trust PLC
01 February 2005


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                      4,446,750
RPS Group                              Ordinary                      3,928,500
White Young Green                      Ordinary                      3,586,916
Dyson                                  Ordinary                      3,501,125
Merrydown                              Ordinary                      3,154,675
Wellington Hldgs                       Ordinary                      3,130,000
Chamberlin &  Hill                     Ordinary                      2,285,000
Litho Supplies                         Ordinary                      2,142,300
Hill & Smith Holdings                  Ordinary                      2,005,375
Thorpe F.W.                            Ordinary                      1,937,500

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

The above information is as at 31st January 2005.


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