Top Ten Holdings

Foreign & Colonial Eurotrust PLC
02 January 2004

The Stock Exchange
RNS
Old Broad Street
London
EC2N 1HP  2 January 2004

Dear Sir

Foreign & Colonial Eurotrust PLC

The top ten holdings and all holdings over 5% of gross assets as at 31 December
2003 were:

Stock                                          % of gross assets

TotalFinaElf                                          6.3
BNP Paribas                                           4.6
UBS                                                   4.1
AXA                                                   3.6
Nokia                                                 3.4
Societe Generale                                      3.4
Saint-Gobain                                          3.1
ING                                                   3.0
Novartis                                              3.0
Aventis                                               2.8


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