Portfolio Update

Rights and Issues Inv Trust PLC
05 April 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                      4,333,875
Merrydown                              Ordinary                      4,112,125
RPS Group                              Ordinary                      3,867,750
Dyson                                  Ordinary                      3,616,750
White Young Green                      Ordinary                      3,516,332
Wellington Hldgs                       Ordinary                      3,510,000
Hill & Smith Holdings                  Ordinary                      2,493,375
Litho Supplies                         Ordinary                      2,489,700
Chamberlin &  Hill                     Ordinary                      2,115,000
VP                                     Ordinary                      1,855,000

Of the above  HBOS, Merrydown ,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 March 2005.


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