Final Results - Year Ended 31 October 1999

Edinburgh Worldwide Investment Trust PLC
7 December 1999


            
 
 Edinburgh  Worldwide Investment Trust plc is the successor  investment  trust
 following the reconstruction of Dunedin Worldwide in July 1998.
 
 The  investment  objective  of the company is to  achieve  long-term  capital
 growth  in  excess of the capital return (in sterling terms)  of  the  Morgan
 Stanley  Capital International World Index. The portfolio is actively managed
 by  investing  in stock markets throughout the world and utilises  long  term
 debt with the objective of enhancing capital returns to shareholders.
 
 
              Preliminary Results for the Year to 31 October 1999
                                       

Net  asset  value per share increased by 34.0% to 270.83p, substantially
beating the MSCI World Index which rose by 26.0% (in sterling terms) over the
same period

All  geographic  segments of the portfolio, and in particular  the  USA,
produced returns ahead of the relevant index

Share price up by 27.9% to 214.25p

Recommended final dividend of 1.70p making total dividends  payable  for
the year of 2.20p

Edinburgh  Worldwide  Investment Trust  is  supporting  the  AITC  'its'
campaign

 
                   
For further information, please contact:-
 
Iain Beattie   Director,
               Edinburgh Fund Managers plc             0131 313 1000
 
 
 
 
                             CHAIRMAN'S STATEMENT


Performance

In  this the company's first full financial year, I am pleased to report  that
for  the  twelve  months  to 31 October 1999 the net  asset  value  per  share
increased  by  34.0% to 270.83p, substantially beating the  MSCI  World  Index
which   rose   by  26.0%  (in  sterling  terms)  in  the  same  period.    The
outperformance  of the net asset value was attributable largely  to  excellent
stock  selection and it is encouraging to report that all geographic  segments
of  the  portfolio  produced returns ahead of the relevant index.   The  share
price  rose  by 27.9% to 214.25p and represented a discount of  20.9%  to  net
asset value at 31 October 1999.

Revenue

The  revenue  return  for  the  year  amounted  to  2.80p  and  the  Board  is
recommending  a final dividend of 1.70p which will be paid on 1 February  2000
to  shareholders  on the register on 6 January 2000.  When combined  with  the
interim dividend of 0.50p, the total dividend paid for the year will amount to
2.20p.

Share Buy Backs

The  company received approval from shareholders at last year's Annual General
Meeting  to purchase its own shares and subsequently applied to the  Court  of
Session  to  cancel a proportion of its share premium account.  Approval  from
the Court was received in April 1999 and a new special reserve was established
to  fund  purchases  of the company's shares.  The board intends  to  purchase
shares  for cancellation when there is an imbalance between the supply of  and
demand  for  the company's shares and a buyback would enhance  the  net  asset
value  per  share for continuing shareholders.  The company did not repurchase
any of its shares in the period to 31 October 1999.

Marketing

The Association of Investment Trust Companies (AITC) has recently embarked  on
a  campaign to improve the awareness of potential investors to the attractions
of  investment  trusts.  The company, as a member of the AITC, has  agreed  to
contribute £53,000 per annum over the next three years to this campaign  which
will hopefully lead to a reduction in the discount to net assets.

In  addition, the board will continue to promote the company more specifically
through   the  manager's  'investment  trust  initiative'  whereby   Edinburgh
Worldwide  participates  in  the retail products operated  by  Edinburgh  Fund
Managers.   These  products currently comprise of a savings  scheme,  personal
equity  plans,  individual  savings accounts  and  pension  plans  and  enable
investors  to  make monthly savings or lump sum investments in  the  company's
shares  in  a  low cost and convenient manner.  The company's contribution  to
this initiative was £44,000 for the year.
Outlook

Faster  economic  growth  is  generating a healthy environment  for  corporate
profits  and  analysts'  forecasts have been increased  repeatedly  in  recent
months.   While further small increases in interest rates may be  required  to
keep inflation under control, the pre-emptive actions by central banks in  the
UK,  Europe  and  the  USA  have been welcomed by investors  as  signals  that
previously  damaging boom to bust cycles will be avoided.  A  continuation  of
growth  and low inflation should be rewarding for investors in global equities
in the year ahead.



David Coltman, Chairman



STATEMENT OF TOTAL RETURN
for the year ended 31 October 1999 (audited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Realised gains on investments           -      7,914      7,914
Unrealised gains on investments         -     27,714     27,714
Currency losses                         -        (12)       (12)
Investment income                   1,745          -      1,745
Interest receivable                 1,227          -      1,227
Other income                           26          -         26
Investment management fee            (271)      (814)    (1,085)
Administrative expenses              (303)         -       (303)
                                                               
Net  return before finance costs    2,424     34,802     37,226
and taxation
Interest  payable  and   similar     (568)    (1,679)     2,247)
charges                             
                                                               
Return  on  ordinary  activities    1,856     33,123     34,979
before taxation
Taxation                             (485)       274       (211)
                                                               
Return  attributable  to  equity    1,371     33,397     34,768
shareholders
Dividend  in respect  of  equity   (1,078)         -     (1,078)
shares                               
                                                               
                                      293     33,397     33,690
                                                           
                                                               
Return per ordinary share           2.80p     68.15p      70.95p
                                     
Total   dividend  per   ordinary    2.20p                      
share                               
______________________________________________________________________________


STATEMENT OF TOTAL RETURN
for the period ended 31 October 1998 (audited)
                                  Revenue    Capital      Total
                                     £000       £000       £000
Realised losses on investments          -     (9,043)    (9,043)
Unrealised losses on investments        -    (10,032)   (10,032)
Currency losses                         -     (1,155)    (1,155)
Investment income                     466          -        466
Interest receivable                   235          -        235
Other income                            8          -          8
Investment management fee             (70)      (210)      (280)
Administrative expenses              (126)       (36)      (162)
                                     
                                                               
Net  return before finance costs      513    (20,476)   (19,963)
and taxation
Interest payable                     (174)      (515)      (689)
                                     
                                                               
Return  on  ordinary  activities      339    (20,991)   (20,652)
before taxation
Taxation                             (150)        65        (85)
                                  
                                                               
Return  attributable  to  equity      189    (20,926)   (20,737)
shareholders
Dividend  in respect  of  equity     (122)         -       (122)
shares                              
                                                               
                                       67    (20,926)   (20,859)
                                       
                                                               
Return per ordinary share            0.39p   (42.70p)   (42.31p)
                                      
                                                               
Total   dividend  per   ordinary     0.25p                      
share                                 

BALANCE SHEET  (audited)
                                       At 31          At 31
                                     October        October
                                        1999           1998
                                        £000           £000
Fixed assets                                               
Investments                          145,717        103,324
Investment property                      180            180
                                                                              
                      
                                     145,897        103,504
                                                          
                                                           
                                                           
Current assets                        29,332         36,524
Current liabilities                   (2,839)        (1,665)
                                       
                                                           
Net current assets                    26,493         34,859
                                                     
                                                           
                                                           
Total   assets   less   current      172,390        138,363
liabilities
Creditors:  falling  due  after      (39,673)       (39,336)
more than one year                       
                                                           
                                     132,717         99,027
                                                         
                                                           
                                                           
Capital and reserves                                       
Called   up  share  capital   -        2,450          2,450
equity
Reserves                             130,267         96,577
                                           
                                                           
Total    equity   shareholders'      132,717         99,027
funds                                      
                                                           
                                                           
Net  asset  value per  ordinary      270.83p        202.08p
share

NOTES :

1. The  financial  statements  have been prepared under  the  same  accounting
   policies used for the period to 31 October 1998.

2. The  directors propose that a dividend of 1.70p be paid to shareholders  on
   the  register  at the close of business on 6 January 2000. The  ex-dividend
   date  is  29  December  1999  and, subject  to  shareholder  approval,  the
   dividend will be paid on 1 February 2000.

3. The  financial  information for the period ended 31 October 1998  has  been
   extracted  from  the 1998 Annual Report and Accounts of the  company  which
   have  been  filed  with  the  Registrar  of  Companies  and  contained   an
   unqualified  auditors'  report.  The statement  of  total  return  and  the
   balance  sheet  set out above do not represent full statutory  accounts  in
   accordance  with  Section  240 of the Companies  Act  1985.  The  statutory
   accounts  for  1999  contain an unqualified auditors' report  and  will  be
   delivered  to  the  Registrar of Companies following the  company's  Annual
   General  Meeting  which  will  be  held at Donaldson  House,  97  Haymarket
   Terrace, Edinburgh on Friday, 28 January 2000 at 12.00 noon.

4. The  Annual Report will be posted to shareholders on 29 December  1999  and
   copies will be available from the registered office.

Please note that past performance is not necessarily a guide to the future and
that  the  value of investments and the income from them may fall as  well  as
rise  and may be affected by exchange rate movements.  Investors may  not  get
back the amount they originally invested.


For Edinburgh Worldwide Investment Trust plc
Edinburgh Fund Managers plc, Secretary