Portfolio Update

Rights and Issues Inv Trust PLC
10 February 2004

Rights and Issues Investment Trust Plc

In accordance with UKLA Listng 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

RPS Group                          Ordinary                          3,982,500
HBOS                               Ordinary                          3,808,875
Enterprise Inns                    Ordinary                          3,571,750
Syltone                            Ordinary                          2,978,250
Dyson                              Ordinary                          2,631,625
Merrydown                          Ordinary                          2,344,525
Wellington Hldgs                   Ordinary                          2,150,000
Litho Supplies                     Ordinary                          1,930,000
White Young Green                  Ordinary                          1,897,500
Colefax Group                      Ordinary                          1,795,500


Of the above RPS Group,HBOS,Enterprise Inns ,Syltone and Dyson have a market
value of greater than 5% of the Trust's gross assets.



The above information is as at 31st December 2003

Name of Company                     Class                            Value

RPS Group                           Ordinary                         4,293,000
HBOS                                Ordinary                         3,808,875
Enterprise Inns                     Ordinary                         3,664,500
Dyson                               Ordinary                         2,465,125
White Young Green                   Ordinary                         2,309,999
Merrydown                           Ordinary                         2,258,600
Wellington Hldgs                    Ordinary                         2,150,000
Litho Supplies                      Ordinary                         2,103,700
Colefax Group                       Ordinary                         1,732,500
Chamberlin &  Hill                  Ordinary                         1,535,000


Of the above RPS Group,HBOS and Enterprise Inns have a market value of greater
than 5% of the Trust's gross assets.


The above information is as at 31st January 2004


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