Top Ten Holdings

European Assets Trust NV
1 April 2004



To:    RNS

From:  European Assets Trust

Date:  01 April 2004



Listing Rule 21

In accordance with paragraph 21.20 l (ii) of the Listing Rules European Assets
Trust announces its top ten holdings, including all holdings with a value
greater than 5% of its gross assets, as at 31 March 2004:


Top 10 Holdings                         

Company                 % Total Assets  
Merloni Elettrodomes    4.7             
Anglo Irish Bank        4.4             
Ipsos                   4.3             
Pierre & Vacances       4.1             
Baron de Ley            3.9             
Indra Sistemas          3.8             
Swedish Match AB        3.8             
Neopost                 3.4             
Iaws Group              3.3             
Hera                    3.3             


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