Top 10 Investments

INVESCO English & International plc announces that, as at 31 December 2003, its
top ten investments were as follows:

Company                        Issue         % of gross 
                                              assets*  
                                                                   
Games Workshop                 Ord 5p         2.12%                
                                                                   
Savills                        Ord 5p         1.74%                
                                                                   
Pendragon                      Ord 25p        1.70%                
                                                                   
Greene King                    Ord 25p        1.67%                
                                                                   
UK Coal                        Ord 1p         1.58%                
                                                                   
SVB                            Ord 1p         1.35%                
                                                                   
Oxus Gold                      Ord 1p         1.34%                
                                                                   
HIT Entertainment              Ord 2p         1.25%                
                                                                   
Monterrico Metals              Ord 10p        1.24%                
                                                                   
Whitehead Mann                 Ord 5p         1.23%                

* Subject to successful settlement of trades outstanding on the relevant date.

This announcement is made in accordance with Paragraph 21.20(l)(ii) of the
Listing Rules.

INVESCO Asset Management Limited

5 January 2004



END