Top Ten Holdings

European Assets Trust NV
05 January 2004

To:          RNS

From:          European Assets Trust NV

Date:          5 January 2004





Listing Rule 21



In accordance with paragraph 21.20 l (ii) of the Listing Rules European Assets
Trust NV announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 31 December 2003:




Company                                 % Total Assets

Logitech                                      4.3

Anglo Irish Bank                              4.2

Ipsos                                         4.2

Baron de Ley                                  4.1

Pierre & Vacances                             4.1

Paddy Power                                   3.9

Merloni Elettrodomestici                      3.8

Swedish Match                                 3.7

Bvlgari                                       3.6

Mediolanum                                    3.6

Total                                        39.5



For further information please contact:

Michael Campbell

ISIS Asset Management plc

0131 465 1000


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