Issue of Equity

Edinburgh US Tracker Trust PLC
31 January 2002

ISSUE OF ORDINARY SHARES

The board of Edinburgh US Tracker Trust plc are pleased to announce the issue of
200,000 ordinary shares at a price of 661.5p per share on 31 January 2002. The
shares were allotted for cash at a premium to the net asset value under section
95 (disapplication of pre-emption provisions) of the Companies Act 1985.
Following the issue, there will be 88,181,164 ordinary shares in issue.

The issue is subject to the listing of the shares on the London Stock Exchange
and an application has also been made to the UK Listing Authority (the hearing
to be held on 5 February 2002).

For Edinburgh US Tracker Trust plc

Edinburgh Fund Managers plc

Secretary


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