Quarterly Disclosure

RNS Number:3563Z
St.David's Inv Tst PLC
2 June 2004


In accordance with UKLA Listing Rule 21.20 (1)(ii) and on behalf of the
investment trusts under its management, Aberdeen Asset Managers Limited
announces the following list representing 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 May 2004:


ST DAVID'S INVESTMENT TRUST PLC

Top 10 Portfolio Assets

NAME                                 Market Value            % Ttl Gross
------                               --------------             Assets
                                                    --------------------

SHELL TRANSPORT & TRADING ORD           3,863,650                 6.97
GBP0.25 (REGD)

UNITED UTILITIES ORD GBP1               2,337,050                 4.21

ROYAL BANK OF SCOTLAND GROUP ORD        2,185,569                 3.94
GBP0.25

BARCLAYS ORD GBP0.25                    1,902,000                 3.43

PREMIER FARNELL 89.2P CNV CUM RED       1,830,000                 3.30
PREF GBP1.00

SAINSBURY (J.) ORD GBP0.25              1,771,250                 3.19

BALFOUR BEATTY 10.75% GROSS (NT PD)     1,762,500                 3.18
CCR PRF GBP

LLOYDS TSB GROUP ORD GBP0.25            1,670,987                 3.01

AVIVA ORD GBP0.25                       1,656,075                 2.99

NOVAR 7.25% CC RED PRF GBP0.1666        1,612,000                 2.91







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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