EP Global Opportunities Trust Plc (the "Company")

In accordance with UKLA Listing Rule 21.20(l)(ii), the following list
represents the Company's 10 largest investments and where appropriate, any
investment with a value greater than 5% of the Company's gross assets as at 31
December 2003:

Name of company                        Class of share                        
                                                                             
Allied Domecq                          Ordinary                              
                                                                             
Allied Irish Banks                     Ordinary                              
                                                                             
Altadis                                Ordinary                              
                                                                             
Centrica                               Ordinary                              
                                                                             
Credit Agricole                        Ordinary                              
                                                                             
ENI                                    Ordinary                              
                                                                             
Glaxosmithkline                        Ordinary                              
                                                                             
Novartis                               Ordinary                              
                                                                             
Shell Transport & Trading              Ordinary                              
                                                                             
Vivendi Universal                      Ordinary                              
                                                                             
None of the above have a value greater                                       
than 5% of the Company's gross assets                                        

05.01.04



END