10 Largest Investments

EDINBURGH US TRACKER TRUST PLC - 10 LARGEST INVESTMENTS


The company announces that the ten largest investments as at close of business
on 31 October 2004 were as follows:


Company                                 % of Gross Assets
General Electric Company                             3.39
Exxon Mobil Corporation                              3.02
Microsoft Corporation                                2.87
Citigroup Inc                                        2.16
Walmart Stores                                       2.15
Pfizer Inc                                           2.06
Bank of America Corporation                          1.71
Johnson & Johnson                                    1.64
American International Group                         1.50
International Business Machines                      1.43
TOTAL                                               21.93


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