Top 10

European Assets Trust NV
5 January 2005


To:        RNS
From:      European Assets Trust plc
Date:      05-Jan-05


Listing Rule 21


In accordance with paragraph 21.20 l (ii) of the Listing Rules European Assets
Trust plc announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 31-Dec-04:




European Assets Trust
Top 10 Holdings
Company                                            % Total Assets
Logitech Intl Regd                                 4.7
Indra Sistemas                                     4.4
Neopost                                            3.8
Iaws Group                                         3.5
Anglo Irish Bank                                   3.4
Andritz                                            3.3
Fadesa Inmobiliaria                                3.2
Hera                                               3.1
Ryanair Holdings                                   3.1
Grafton Group                                      3.0





For further information please contact:

Michael Campbell
F&C Asset Management plc
0131 465 1000





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