Portfolio Update

Monks Investment Trust PLC
05 November 2004


                         THE MONKS INVESTMENT TRUST PLC

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


31 October 2004

No      Holding                                                % of Total Assets

1.      Baillie Gifford Pacific C Income                                    6.8%

2.      Suncor Energy                                                       4.0%

3.      Golden West Financial                                               3.2%

4.      Moodys                                                              2.7%

5.      Altria Group                                                        2.1%

6.      Mohawk Industries                                                   2.0%

7.      Baillie Gifford High Yield Bond Fund C Income                       2.0%

8.      Burlington Resources                                                1.9%

9.      Vodafone Group                                                      1.7%

10.     GlaxoSmithKline                                                     1.6%


                                                           Baillie Gifford & Co.
                                                             Company Secretaries
                                                                 5 November 2004

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