Top Ten Investments

INVESCO Asia Trust plc                             

HEADING: Top 10 Investments

INVESCO Asia Trust plc announces that, as at 30 June 2004, its top ten
investments were as follows:

Investments over 5% of total assets                      
                                                         
Nil                                                      
                                                         
Investments under 5% of total assets                     
                                                         
Samsung Electronic                                       
                                                         
United Overseas Bank                                     
                                                         
United Micro Electronic                                  
                                                         
Australia & New Zealand Bank Group                       
                                                         
SK Telecom                                               
                                                         
CJ Corporation                                           
                                                         
Jardine Matheson                                         
                                                         
Sinopac Holding                                          
                                                         
Cheung Kong Infras                                       
                                                         
New World Development Company                            

Ordinary Shares unless otherwise stated.

This information is based on the most recent available valuation, as at 30 June
2004.

This announcement is made in accordance with Paragraph 21.20(l)(ii) of the
Listing Rules.

INVESCO Asset Management Limited

2 July 2004