The net asset value of Dunedin Income Growth Investment Trust plc as at the
close of business on 31 October 2003 are as follows:

The net asset value after deducting debt at market value is 178.90p.

(For Edinburgh Fund Managers plc, Company Secretary)


Undiluted nav (p): 191.82
Potential Gearing: 122.8
Actual Gearing: 117.2