Result of AGM

RESULTS OF THE ANNUAL GENERAL MEETING HELD ON 11 MAY 2005

The board are pleased to announce that at the Annual General Meeting held on  11
May  2005,  all resolutions were passed by shareholders including the resolution
releasing directors from the obligation to liquidate the company this year.

The  proxy votes received in respect of the Annual General Meeting are shown  in
the following table:
(Note:  4 shares equates to one vote).


      Ordinary Resolutions               For  Against  Abstain       Total
1     Adoption  of  2005  report   4,568,910    2,894   73,216   4,645,020
      and financial statements
2     Approval   of   Directors'   4,639,388    2,771    2,860   4,645,019
      Remuneration Report
3     Declaration    of    final   4,643,576      996      448   4,645,020
      dividend
4     Re-election of  Sir  Angus   4,631,053   13,279      687   4,645,019
      Grossart
5     Re-appointment of KPMG  as   4,637,939    6,344      737   4,645,020
      auditors
6     Authorisation of directors   4,638,968    4,898    1,156   4,645,019
      to fix the remuneration of
      the auditors

      Special Resolutions               For   Against  Abstain       Total
7     Release  of the  directors   4,565,615   49,289   30,115   4,645,019
      from obligation to convene
      an EGM in 2004 at which  a
      resolution will be  passed
      to wind up the company
8     Limited disapplication  of   4,379,035  237,117   28,868   4,645,020
      pre-emption rights

9     Share buyback authority      4,640,028    2,912    2,079   4,645,019

10    Increase     limit      on   4,627,473   14,770    2,227   4,644,470
      directors     remuneration
      within articles to £75,000


PASSING OF RESOLUTIONS UNDER ORDINARY AND SPECIAL BUSINESS

A copy of the above document has been submitted to the UK Listing Authority, and
will  shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

For Edinburgh US Tracker Trust plc
Edinburgh Fund Managers plc
Secretary