Ten 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                            3.45
Exxon Mobil Corporation                             3.00
Microsoft Corporation                               2.58
Citigroup Inc                                       2.29
Wal-Mart Stores Inc                                 2.00
Johnson & Johnson                                   1.73
Bank of America Corporation                         1.69
Pfizer                                              1.64
American International Group                        1.55
International Business Machines                     1.40
TOTAL                                              21.33


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