Miscellaneous 10 Largest Investments

DUNEDIN INCOME GROWTH INVESTMENT TRUST PLC

                             10 LARGEST INVESTMENTS


The company announces that the ten largest investments as at close of business
on 30 April 2004 were as follows:


Company                                 % of Gross Assets
BP                                                  6.80%
HSBC Holdings                                       5.97%
GlaxoSmithKline                                     5.94%
Vodafone Group                                      4.99%
Royal Bank of Scotland Group                        4.67%
Shell Transport & Trading                           3.77%
Diageo                                              3.10%
Lloyds TSB Group                                    3.09%
HBOS                                                2.98%
Imperial Tobacco Group                              2.69%
TOTAL                                               44.0%



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