Portfolio Update

Rights and Issues Inv Trust PLC
03 May 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

Merrydown                              Ordinary                      4,136,675
HBOS                                   Ordinary                      4,055,625
RPS Group                              Ordinary                      3,631,500
Wellington Hldgs                       Ordinary                      3,590,000
White Young Green                      Ordinary                      3,432,916
Dyson                                  Ordinary                      3,075,625
Hill & Smith Holdings                  Ordinary                      2,478,125
Litho Supplies                         Ordinary                      2,335,300
Chamberlin &  Hill                     Ordinary                      1,915,000
VP                                     Ordinary                      1,845,000



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


The above information is as at 30th April 2005.







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