Portfolio Update

2 Nov 2005 17:00

EUROPEAN UTILITIES TRUST PLCIn accordance with UKLA Listing Rule 15.4.11(2), the following list representsthe Company's 10 largest investments as at 31st October 2005 and whereappropriate, any investment with a value greater than 5% of the Company's grossassets:Name of company Class of shareBAA* ORDINARY KON KPN NV* ORDINARY RWE* ORDINARY FRANCE TELECOM* ORDINARY E.ON* ORDINARY NATIONAL GRID ORDINARY SUEZ ORDINARY VEOLIA ENVIRONNMENT ORDINARY AGUAS DE BARCELONA ORDINARY SEVERN TRENT ORDINARY *Holding greater than 5% of the company's gross assets.ENDEUROPEAN UTILITIES TRUST PLC