Investment Policy

EDINBURGH US TRACKER TRUST PLC

Investment Policy

15 October 2003

The  board  of Edinburgh US Tracker Trust plc (the 'Company') notes  the
publication  of  the Investment Entities (Listing Rules and  Conduct  of
Business)  Instrument 2003 and announces that in line with the Company's
strategy to track the performance of the S&P Composite Index, the  board
has no intention of investing more than 15% of its gross assets in other
listed  investment companies (including listed investment  trusts).  The
Company currently has no such holdings.

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