Top 10 Investments

INVESCO Geared Opportunities Trust plc announces that, as at 31 December 2003,
its top ten investments were as follows:

Company                         Issue         % of gross 
GlaxoSmithkline                Ord 25p        7.44%                
Lloyds TSB                     Ord 25p        7.06%                
Prudential                     Ord 5p         3.84%                
MSDW-Vodafone                  PERQ 1/10/     3.43%                
Rolls Royce                    Ord 20p        3.07%                
Premier Farnell                PFD 89.2p      2.90%                
LogicaCMG                      Ord 10p        2.61%                
Countrywide Assurance          Ord 5p         2.58%                
Estates and General            Ord 10p        2.57%                
BT                             Ord 5p         2.29%                

* 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