Portfolio Update

Rights and Issues Inv Trust PLC
04 July 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:

                                       Class                         Value

HBOS                                   Ordinary                      4,515,000
RPS Group                              Ordinary                      4,164,750
White Young Green                      Ordinary                      3,785,832
Dyson                                  Ordinary                      3,274,500
Hill & Smith Holdings                  Ordinary                      2,470,500
Chamberlin &  Hill                     Ordinary                      2,300,000
Litho Supplies                         Ordinary                      2,238,800
VP                                     Ordinary                      2,080,000
UCM Group                              Ordinary                      1,800,000
Colefax Group                          Ordinary                      1,570,800



Of the above  HBOS, RPS Group, 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 June 2005.







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