Portfolio Update

Monks Investment Trust PLC
04 May 2004

                         THE MONKS INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets



30 April 2004


No      Holding                                                % of Total Assets

1.      Baillie Gifford Pacific C Income                            6.8%
2.      Golden West Financial                                       3.4%
3.      Suncor Energy                                               2.9%
4.      Moodys                                                      2.6%
5.      Vodafone Group                                              2.6%
6.      Baillie Gifford High Yield Bond Fund C Income               2.5%
7.      Altria Group                                                2.5%
8.      Burlington Resources                                        2.0%
9.      Bank of Scotland (SAMS) 2072                                1.7%
10.     GlaxoSmithKline                                             1.7%


                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                      4 May 2004



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